Stocks surge in Tokyo, Hong Kong after reassurance from China and Fed rate hike

BEIJING — Asian stock prices surged for a second day Thursday after the Federal Reserve announced its first interest rate hike since 2008 and China promised support for its real estate and internet industries.

The Nikkei 225 NIK in Tokyo surged nearly 3% while the Hang Seng HSI in Hong Kong rose more than 6%, adding to the previous day’s explosive 9.1% gain. The Shanghai Composite Index SHCOMP advanced 2.6%. Wall Street’s benchmark S&P 500 index rose 2.2% on Wednesday after the Fed raised its short term lending rate by 0.25 percentage points. The move was widely expected but investors were reassured it was smaller than the 0.5 percentage point hike advocated by some officials.

Other central banks also are preparing to withdraw stimulus they poured into the global economy after the coronavirus pandemic struck.

The two largest economies are focusing on growth going forward - what more does one need as a bullish catalyst

$MOS March-May is fertilizer season, now with russia sanctions prices will go up, break record highs. war or no war fertilizer prices having been going up, since 2021. Commodity Super Cycle Inflation $CF $NTR $SPY $VIX MosaicCompany now $CP lockout

Philippines Philippines Latest News, Philippines Philippines Headlines

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

China stocks lead Asian markets mostly lower, while oil prices fall under $100 a barrelStocks were mostly lower in Asia and oil prices fell Tuesday after another day of losses on Wall Street as anxiety over the war in Ukraine and an upcoming... Chinese investors are paying for russia-urkraine😂
Source: MarketWatch - 🏆 3. / 97 Read more »

Hang Seng, China Stocks Soar as Beijing Pledges Support Amid Equity RoutHong Kong’s stock market posted double-digit gains in Wednesday afternoon trading, while crypto remained stable after China's State Council pledged support for the stock market. thesamreynolds reports. thesamreynolds thesamreynolds ⛽️ Tap in thesamreynolds i need two person follow me 🙏
Source: CoinDesk - 🏆 291. / 63 Read more »

Asia stocks skid as Ukraine war, China's COVID surge weighAsian stocks were in the red on Tuesday as surging COVID-19 cases in China hit the confidence of investors who are already worried about the Ukraine war and the first U.S. interest rate rise in three years, which could come this week.
Source: Reuters - 🏆 2. / 97 Read more »

It's Been One Of The Top 5 Worst Starts To A Year For Stocks And BondsThe start of 2022 has been one of the worst in history for both stocks and bonds. However, in the past, calendar year returns have been positive a lot more often than not; even after historically bad starts to a year.
Source: Forbes - 🏆 394. / 53 Read more »