Stocks rally sputters as growth fears resurface

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Asia's stockmarkets wobbled lower on Wednesday as reality bit on hopes for a soft economic landing in the United States, and investors curbed their enthusiasm about China's reopening.

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The growth fears rallied longer-dated bonds and helped the safe-haven U.S. dollar to pause its recent retreat. Traders in Asia are intently weighing prospects for loosening in China's COVID-19 controls and what that means for the world's second-biggest economy and regional demand."This alone will start to make a difference to consumption figures if replicated across the country," said BNY Mellon strategist Geoff Yu."And there are very few precedents for what the country is looking to achieve ...

 

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Chinese stocks rally on reopening hopes; Morgan Stanley upgrades to overweightBeijing and Shenzhen announced over the weekend they would lift measures that required commuters to show negative Covid test results before travel. MS the smartest among the US I-Bank. Better late than never.
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