Chian Markets Grew Despite the Bearish Predictions
Activity in Asian markets was reasonably low this Monday as traders await the Fed Reserve meeting this week. Conversely, Chinese stock markets enjoyed an increase in share values. For example, Shanghai Shenzhen CSI 300 and Shanghai Composite indices rose 1.2% and 0.7%, respectively. Moreover, the State media declared that domestic travel and consumption are back to their normal state as the country survives the latest wave of Covid pandemic and loosens the strict anti-covid policies.
The recovery in China’s economy will positively affect other Asian markets, given that China is an influential economic ally. However, since China is still dealing with the outbreak, the timing of the recovery is debatable. Meanwhile, markets are waiting for the Chinese business activity data to see how the removal of anti-covid measures have contributed to the country’s economic growth.
Source: The Pipsafe Team – Chian Markets Grew Despite the Bearish Predictions
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