HONG KONG, May 9 — Asian stocks fell today as investors remained anxious over inflation and the ongoing impact of China’s Covid lockdown policies, despite an initial Wall Street bounce thanks to a solid US jobs report.
“Asian equities are down heavily in the red today as regional markets react to tightening Covid-19 restrictions in China and fears of a prolonged slowdown in the world’s second-largest economy,” Jeffrey Halley, a senior market analyst at OANDA Asia Pacific, said. But any uptick was short-lived, as the United States’ fierce monetary tightening has continued to send traders running for the hills.
The losses globally capped a volatile week, and markets are bound to remain “messy”, said Diana Mousina, a senior economist at AMP Investments.
Debt settlement