HONG KONG, July 8 — Asian markets rose today on easing recession fears with optimism boosted by hopes that Joe Biden will remove some Trump-era tariffs from Chinese goods, while the euro extended losses and headed close to parity with the dollar.
Traders were handed a strong lead from Wall Street, where all three main indexes climbed for a fourth straight day, helped by two top Federal Reserve officials who said the economy could withstand sharper rate hikes and maintain growth. Tokyo’s Nikkei 225 ended up but saw its early big gains wiped out after news filtered through of Abe’s shooting.
“If it becomes possible for Kishida to carry out policies he wanted to, such as financial tax and regulations on share buy-back, that would be negative for markets.”The Fed’s policy plans will be in focus later today when US employment data is released, with a strong reading providing the central bank with evidence to stick to its hawkish line.