Shares were mostly higher in Asia on Tuesday despite growing worries over the risks of recession as prices push higher while economies are still recovering...
BANGKOK — Shares were mostly higher in Asia on Tuesday despite growing worries over the risks of recession as prices push sharply higher while economies are still recovering from the impact of the pandemic.
Most major markets advanced though Hong Kong declined, weighed down by worries over Chinese property developers and regulatory crackdowns on technology companies. “One of the biggest problems is that finding a dissenting voice on the global procession to recession is getting increasingly rare. The negativity about the economy is pervasive, and that alone can keep stock pickers sidelined,” Stephen Innes of SPI Asset Management said in a commentary.
On Wall Street, stocks closed slightly lower after a wobbly day of trading Monday, as worries about interest rates and inflation overshadowed some better-than-expected profit reports. The central bank has already raised short-term rates once, and investors are expecting it to raise rates by double the usual amount in a couple weeks, with more likely on the way.
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