Asia stocks rose on Wednesday, encouraged by a rally on Wall Street, but gains were kept in check by worries that aggressive central bank policy tightening will stifle global growth and raise the risks of stagflation.
India’s central bank is also expected to raise rates later in the day in a bid to tame hot prices, with more hikes being priced in. “But I wouldn't say that it’s a reversal, unless a change of data will tell us otherwise,” Nguyen said. “The bounce in risk sentiment is due to a more positive China tilt where the outlook is set to brighten up as Covid-19 restrictions ease, and state-owned banks are obliged to increase lending again,” Stephen Innes, Managing Partner at SPI Asset Management said in a note.
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