Marketmind: Soft landings and re-openings

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Asian markets are set to open the week with a spring in their step on Monday, buoyed by Wall Street’s surge on Friday and rising hopes of a soft U.S. landing, and optimism surrounding China’s re-opening after its ‘zero-Covid’ policy came to an end.

Travelers began streaming into mainland China by air, land and sea on Sunday, as Beijing opened borders that have been all but shut since the start of the COVID-19 pandemic.

The increasing bullishness is being reflected in China’s exchange rate. The yuan is its strongest since mid-August, moving further away from the 7.00-per-dollar level. Analysts are split on whether this paves the way for the company to revive its IPO plans, or results in further delay.

 

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