Following Jerome Powell’s comments indicating that the Fed would move to rein in inflation while avoiding much-feared drastic steps this year, tech stocks jumped, thus boosting several key Indices.
Asian markets had a mixed start to the week. Chinese government policy, COVID-19, and rising inflation are among the factors that may be impeding growth in share prices.
As trading opened on Monday morning, Asian indices were in the green despite spreading COVID-19 infections and the continuing global chip shortage.
Tencent stock dropped by over 6% on Tuesday as the Chinese government's crackdown continued. Beijing’s latest steps to reign in online entertainment come in the wake of previous measures taken against e-commerce and online education companies.
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