Asian markets rally, tracking Wall St records

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Hong Kong

Asian markets got off to a strong start Monday morning, recovering from last week’s volatility, with traders buoyed by a record performance on Wall Street though fears about the fast-spreading Delta variant continue to weigh on sentiment.

A decision by China’s central bank to loosen monetary policy slightly for lenders also provided support, while eyes will be on a string of big events this week, including US inflation data, interest rate decisions in several countries and Chi-nese second-quarter growth figures.

Federal Reserve boss Jerome Powell will also be delivering a policy report to US lawmakers, which will be closely watched for an idea about its plans in light of the economy’s strong recovery and spiking virus cases. —AFP

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