Asian stocks traded higher on Friday, recovering from losses from the previous days as investors continued to assess incoming inflation data in search of data on the central banks’ next moves.
Investors are worried about the next moves of central banks in Asia, the US and Europe amid an unprecedented rally in energy prices that has pushed inflation to decades high.
The US Federal Reserve has already raised interest rates by 75 basis points, and plans to raise two more basis points by 50 basis points each summer. Central Bank President Jerome Powell warned yesterday that bringing inflation under control would not be easy.
At the same time, the European Central Bank is preparing to complete its quantitative easing program in the summer and then launch its rate hike. In Asia, the region’s two largest central banks, the Bank of Japan and the central bank of China, have maintained economic stimulus measures despite the rally in recent months.
On the board, the Japanese Nikkei 225 jumps 2.6% to 26,427.94 points.
In Hong Kong the Hang Seng gained 2.2%, while in mainland China the Shanghai Composite gained 0.8% and the Shenzhen Component gained 0.3%.
South Korea’s Kospi jumped 2%, while in Australia the S & P / ASX 200 rose 1.9%.
Source: Capital
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