Hong Kong
Equity markets suffered another sell-off Friday on fears that an expected strong global economic recovery this year will fan inflation and force central banks to hike interest rates, despite reassurances that ultra-loose monetary policies will be kept in place for as long as needed.
The rollout of vaccines, slowing of infections and Joe Biden’s impending huge US stimulus are proving to be a double-edged sword for traders as they weigh the much-needed return to pre-pandemic life with the prospect that prices will soar. And there is a worry this would threaten one of the key pillars of the rally on world markets from their March nadir—record-low borrowing costs and a vast bond-buying programme.—AFP
