Asian stock markets rose Friday after Wall Street losses deepened as worries grow that the US economy is headed for recession.
BEIJING—Traders worry the Federal Reserve and other central banks might be willing to tip Western economies into recession as they try to extinguish inflation that is at multi-decade highs.
The Shanghai Composite Index rose 0.6 percent to 3,260.04 and the Nikkei 225 in Tokyo gained less than 0.1 percent to 26,411.94. The Hang Seng in Hong Kong gained 0.9 percent to 21,844.98. The Dow Jones Industrial Average retreated 0.8 percent to 33,044.56. The tech-heavy Nasdaq tumbled 1 percent to 10,852.27.
The Fed and central banks in Europe and Asia raised interest rates aggressively last year to cool inflation that is multi-decade highs in some economies.The Fed’s key lending rate is 4.25 percent to 4.50 percent, up from close to zero one year ago.
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