Benchmarks rose in Europe in early trading after finishing higher in Japan, Australia, South Korea and China. Trading was temporarily delayed in Hong Kong by a storm.Market watchers say share prices are likely to sway for some time, regardless of whether the focus is on controlling inflation or recession risks. In Asia, a wait-and-see mood has set in during recent sessions, as markets look for signs from the Fed.
Chinese shares have declined this week amid recent policy rate cuts by the People's Bank of China, which also announced policies to stimulate the economy. A recent surge in prices of fresh food remains a risk, according to market analysts. The Bank of Korea said the nation's gross domestic product -- the total value of a nation's products and services -- is projected to grow by 2.6% in 2022 and 2.1% in 2023.
Stocks have been driven higher through the summer on hopes that inflation was near its peak and that the U.S. Federal Reserve may hike interest rates less aggressively than earlier feared. But recent comments by Fed officials have cooled such expectations, sending Wall Street on Monday to its worst day in months. Discouraging reports on the economy have meanwhile highlighted the risk of a recession.
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