Asian stocks rise on cooling recession fears, positive China inflation

Investing.com-- Asian stocks rose on Friday amid cooling fears that a U.S. recession was imminent, while mildly positive inflation data from China also helped spruce up sentiment.

Asian stocks took a positive lead-in from Wall Street, as better-than-expected jobless claims data fueled hopes that the U.S. labor market was not in as dire straits as initially feared.indexes rose 0.3% each, relatively less than most of their Asian peers. Both indexes were down about 0.8% this week, a third straight week of losses.

The two were still set to lose about 1.5% this week, but had also recouped a bulk of losses made earlier in the week. Bargain hunting in heavyweight tech stocks also aided Japanese indexes, as did positive earnings from majors including Tokyo Electron. The stock rose 1.7% after clocking stronger-than-expected earnings in the June quarter, as it flagged increased demand from the artificial intelligence sector.Scan QR code to install app

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Asian shares sink, weighed down by Wall St tech retreat, China policy questionsAsian shares retreated Friday after a broad washout across Wall Street dragged U.S. stocks lower, and Hong Kong’s benchmark dipped more than 2% as
Source: Mynorthwest - 🏆 438. / 53 Read more »

Asian stocks: Japan tumbles as BOJ vows more rate hikes, China rebound stallsAsian stocks: Japan tumbles as BOJ vows more rate hikes, China rebound stalls
Source: Investingcom - 🏆 450. / 53 Read more »

Asian stocks rise with BOJ in focus; China rebounds on stimulus hopesAsian stocks rise with BOJ in focus; China rebounds on stimulus hopes
Source: Investingcom - 🏆 450. / 53 Read more »

Asian stocks rise with BOJ in focus; China rebounds on stimulus hopesAsian stocks rise with BOJ in focus; China rebounds on stimulus hopes
Source: Investingcom - 🏆 450. / 53 Read more »

Asian stocks sink as BOJ, Fed meetings approach; China shares hit 6-mth lowAsian stocks sink as BOJ, Fed meetings approach; China shares hit 6-mth low
Source: Investingcom - 🏆 450. / 53 Read more »

Asian stocks rebound with Fed, rate cuts in focus; China lagsAsian stocks rebound with Fed, rate cuts in focus; China lags
Source: Investingcom - 🏆 450. / 53 Read more »