breaking news Stocks upbeat on China Tech earnings; Dollar Drops: Market Wrap - Business News lastminute news

(Bloomberg) -- Shares in Asia rose on Friday on better-than-expected earnings at Chinese technology companies. Dollar dropped.

breaking news Stocks upbeat on China Tech earnings; Dollar Drops: Market Wrap - Business News lastminute news

(Bloomberg) -- Shares in Asia rose on Friday on better-than-expected earnings at Chinese technology companies. Dollar dropped.

27 Mayıs 2022 - 08:30

(Bloomberg) — Shares in Asia rose on Friday on better-than-expected earnings at Chinese technology companies. Dollar dropped.

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MSCI Inc., a group of Asia-Pacific shares. The gauge rose to four on the first day and was on track for its second weekly advance. Alibaba Group Holding Ltd and Baidu Inc beat sales forecasts, underscoring a rally in Hong Kong, while Japan also climbed. US and European futures declined. Shares on Wall Street climbed Thursday, a sign that consumers remain resilient despite inflationary pressures.

The dollar extended a slide with the currency down nearly 3% from its May 12 peak versus major peers’ gauges. Treasury yields were stable. Oil was trading near $114 a barrel after a rally in the broader market and signs of a fall in US reserves. Copper and aluminum stabilized after a fall in metals on fears of a slowdown in demand from China.

Shares in China rose as investors looked for concrete measures to revive the battered economy. Policy makers are grappling with how to balance controlling the virus outbreak with promoting flagging economic growth.

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