Sumary of Asian markets rise on good US inflation data:
- Asian markets rose on Thursday ahead of US inflation data and a European Central Bank meeting while traders also tracked China-US relations after US President Joe Biden dropped a Trump-era bid to ban TikTok and WeChat..
- However, that optimism is being dampened by fears the rebound is causing a spike in inflation that will force banks – particularly the Federal Reserve – to wind back their ultra-loose programs sooner than previously flagged, despite constant reassurances they will not..
- Traders were keeping tabs on relations between Beijing and Washington in the wake of Biden’s decision to revoke Donald Trump’s executive order against Chinese-owned mobile apps TikTok and WeChat..
- The former president had signed the measure, saying they posed national security risks and had sought to force the sale of TikTok to US investors, worsening already frosty ties between the superpowers…