Asian markets rose Friday, supported by Wall Street and eurozone records. Photo: Jung Yeon-je / AFP/FileSource: AFPAsian markets rose Friday, supported by Wall Street and eurozone records, as traders shrugged off weak US retail sales and recession in Britain and Japan. Japan also entered recession in the back end of 2023, according to data released Thursday, with the Asian nation overtaken by Germany as the world's third-biggest economy. Despite the recession woes and US retail sales dipping more than expected in January, Innes said "the regional and global interest rate environment remains supportive for risk markets". The US Commerce Department reported a larger-than-expected decline in retail sales on Thursday, a 0.8-percent retreat after the winter holidays suggesting dampened consumer sentiment.

Source: Daily Nation February 16, 2024 09:29 UTC