Hong Kong led a rally across Asian markets Tuesday as traders were cheered by reports that Chinese authorities were considering a blockbuster boost to equities after a painful start to the year. "The market was poor enough to warrant such elevated attention -- China cannot afford to see A-shares sinking toward the Lunar New Year holidays." "Prevailing pessimism regarding the economy, policy efficacy, and reduced allocation to China by global and Asian equity funds persists," he said in a commentary. Traders had started the year on a somewhat sour note as a string of figures and warnings from Federal Reserve officials all but doused expectations rates will be cut in March and keep coming down through 2024. No matter how high interest rates go, the economy will continue to glide right through."

Source: Ethiopian News January 23, 2024 03:22 UTC