A surge Friday in US regional lenders and a strong jobs report have provided a shot in the arm for Asian markets at the start of the week. – EPA pic, May 8, 2023.
ASIAN markets rose today, tracking a rally on Wall Street fuelled by a strong rebound in US regional banks and forecast-beating jobs data that eased fears over a recession in the world’s top economy. However, investors remain wary of any further upheaval in the US financial system following last week’s turmoil that saw sale of the embattled First Republic Bank to JPMorgan Chase.
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