Most Asian markets rise on recovery hopes

: Asian markets mostly rose Wednesday following a mixed lead from Wall Street as traders fought to maintain the strong start to the year.

Still, hopes for China’s recovery continued to provide much-needed support, with the country’s Vice Premier Liu He telling the Davos forum growth will likely rebound this year as it reopens from zero-Covid, and adding that Covid infections had peaked. The news added to hopes for a global recovery after last year’s pain caused by rising prices, rate hikes, China’s economic woes, a spike in energy costs and the war in Ukraine.

“But fast-forward to these early weeks of January, and China’s reopening has put the country on a path to much better growth; investors are far more optimistic about Europe’s recovery and the bane of all ills US inflation is even starting to recede.”

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