Asian markets mostly rose Monday and oil fell as investors brushed off both weak data from China and comments indicating the Federal Reserve is wedded to its anti-inflation rate hike campaign.
Strong earnings from Wall Street titans Amazon and Apple had helped US markets end last week with healthy gains and eased concerns about the impact on consumers of surging inflation and rising borrowing costs.
That came after investors took Fed chief Jerome Powell’s comments Wednesday after a policy meeting to indicate the central bank could start slowing down monetary tightening, providing a much-needed boost to stocks.
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