Asia extended a global equities rally as more pledges of government support soothed worries over the banking sector.
Hong Kong led gains across Asia thanks to a rally in banking and tech giants.HONG KONG - Asia extended a global equities rally as more pledges of government support soothed worries over the banking sector and provided some much-needed stability after more than a week of upheaval.
With the recent crisis blamed on the central bank's steep hike in borrowing costs over the past year, pressure is building on officials to pause their monetary tightening campaign, with many observers even tipping several cuts by the end of the year. US and European markets surged at least one percent Tuesday, building on Monday's advances, as investors cheered comments from US Treasury Secretary Janet Yellen reiterating support for lenders after the collapse of two regional banks earlier this month.
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