Asian markets extend Wall Street rally as China eases curbs

30/5/2022 10:50:00 AM

Asian markets extend Wall Street rally as China eases curbs

Asian markets extend Wall Street rally as China eases curbs

HONG KONG, May 30 — Asian markets rose Monday as investors rediscovered some verve after the release of healthy US data and as China eases some of its strict Covid curbs in...

for the latest news you need to know.for the latest news you need to know.KUALA LUMPUR : Malaysia may not be able to replace China as host of the 2023 Asian Cup.× Copy URL Football Association of Malaysia secretary-general Mohd Saifuddin Abu Bakar feels it would be tenuous for Malaysia to organise the prestigious Asian football tournament as there is a lack of high-quality venues and pitches.

Monday, 30 May 2022 12:15 PM MYT HONG KONG, May 30 — Asian markets rose Monday as investors rediscovered some verve after the release of healthy US data and as China eases some of its strict Covid curbs in Shanghai and Beijing, lifting hopes for the world’s number two economy.The gains extended a positive end to last week for global equities with some commentators saying there was a growing hope that the months-long sell-off may have run its course.Football Association of Malaysia (FAM) secretary-general Mohd Saifuddin Abu Bakar personally felt it would be tenuous for Malaysia to organize the prestigious Asian football tournament as there is a lack of high-quality venues and pitches.Wall Street provided a strong lead and snapped a series of weekly losses, with Friday’s rally supported by data showing an easing of the key personal consumption expenditures (PCE) price index.“The training pitches have to also meet the high criteria as stipulated because it is the biggest football competition in Asia,’’ he said when met recently.Markets have been pummelled this year as soaring prices — caused by the Ukraine war, supply chain snags and China’s lockdowns among other things — forced central banks to hike interest rates and warn of more to come.“The training pitches have to also meet the high criteria as stipulated because it is the biggest football competition in Asia,’’ he said when met recently.The US reading lent hope that the worst of the inflation surge may have passed and could allow the Federal Reserve to ease back from its hawkish rate hike drive later in the year.Sign-up now and enjoy one (1) week free access!.

May jobs data — due for release on Friday — should provide a fresh snapshot of the economy and possibly provide an idea about the Fed’s next policy moves.“But this is my opinion, it depends on the decision of the exco meeting which would be held after the FAM Congress in August on whether to bid for the 2023 Asian Cup host or otherwise.“FAM president Datuk Hamidin Mohd Amin can also call to discuss the matter (on organising 2023 Asian Cup) but so far there are no indications we are interested in organising the tournament,” he added.Asian investors followed the lead from their US counterparts.Hong Kong put on more than two per cent after a strong Friday performance fuelled by a rally in tech firms, while Tokyo, Sydney, Shanghai, Seoul, Taipei, Manila and Wellington were also well up.Earlier.An easing of long-running lockdown measures in Shanghai provided a much-needed lift to sentiment, with China’s biggest city seeing a drop in Covid cases, while some curbs were also being lifted in Beijing.Windsor said AFC is giving up the end of the next month for the interested countries to submit their proposal paper to replace China who withdrew from organising 2023 Asian Cup following the Covid-19 pandemic.Officials have also announced measures to ease the impact on the world’s number two economy, which has been hammered by the restrictions.Windsor said AFC is giving up the end of the next month for the interested countries to submit their proposal paper to replace China who withdrew from organising 2023 Asian Cup following the COVID-19 pandemic.

The possibility that the measures could be gradually removed helped oil prices rise, with Brent topping US$120 for the first time in two months as traders bet on a pick-up in demand.That comes as European leaders are said to be edging towards a deal to impose sanctions on imports of crude from Russia in retaliation for its invasion of Ukraine.Meanwhile, Mohd Saifuddin said FAM has set a target for the national Under-23 (B-23) squad to qualify for the semi-finals and emerge among the top four teams at the 2022 U-23 Asian Cup in Uzbekistan, next month.Brad Maloney’s men, who are expected to leave for Tashkent tomorrow, face a tough task in the U-23 2022 Asian Cup after being drawn in Group C alongside 2020 champions South Korea, 2018 runners-up Vietnam and Thailand.Still, while optimism is higher on trading floors at the moment, it remains at a premium with inflation still elevated and borrowing costs expected to rise further, while the war in Ukraine and China’s still-struggling economy continue to drag.“We are in the middle of a bear market rally,” Mahjabeen Zaman, of Citigroup Australia, told Bloomberg Television.― Bernama Advertisement.“I think the market is going to be trading range bound trying to figure out how soon is that recession coming or how quickly is inflation going down.

” — AFP Advertisement.

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Tough for Malaysia to host 2023 Asian Cup, says FAM sec-genKUALA LUMPUR, May 28 ― Malaysia may not be able to replace China as host of the 2023 Asian Cup. Football Association of Malaysia (FAM) secretary-general Mohd Saifuddin Abu...

Tough for Malaysia to host 2023 Asian CupKUALA LUMPUR: Malaysia may not be able to replace China as host of the 2023 Asian Cup. Football Association of Malaysia (FAM) secretary-general Mohd S...

Tough for Malaysia to host 2023 Asian Cup | The Malaysian InsightFAM secretary-general says lack of high-quality venues reason for inability to host games.

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