Asian markets rally, tracking Wall St records



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

Previous articleLightning strikes kill more than 50 in India
Next articleUAE Central Bank plans to roll out digital currency