Asian markets down amid declining global volatility FMTNews FMTBusiness
Receding fears of a banking crisis coupled with China’s recovery optimism failed to boost sentiment.
But receding fears of a banking crisis coupled with optimism for a recovery in the world’s second-biggest economy were still not enough to give a meaningful boost to sentiment. Investors were also keeping an eye on the results of regional US banks after three collapsed last month as lenders faced pressure from rising interest rates.
Investors are also weighing the outlook for the Chinese economy, with data Tuesday showing it expanded a forecast-busting 4.5% expansion in January-March, the first quarter it has been unencumbered by growth-sapping zero-Covid restrictions.
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