SHANGHAI : Asian shares found some footing after a volatile session for U.S. equities, but the dollar remained at 20-year highs and global stocks near 18-month lows on worries about persistently high inflation and tightening central banks.
But after fears of the impact of central bank tightening led to sharp losses a day earlier, Asian shares bounced early in the trading day. "I think there comes that point where you run out of sellers. I'm not really certain that this is going to be a buying rally at the moment, possibly a short-covering rally ahead of the weekend."
The yen was at 129.02 per dollar, softening from a two-week peak of 127.5 hit overnight. The European single currency edged down a hair to $1.0376.
Source: News Formal (newsformal.com)
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