Asian shares recover on easing inflation fears
Asian share markets recovered on Friday, with Japanese shares performing the strongest. The jump could be attributed to investors’ enthusiasm over stocks that would highly benefit from a rebound across the globe.
MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.6% increase. Chinese blue chips hiked 0.1%, while Australian shares traded 0.7% higher. Meanwhile, Japan’s benchmark index Nikkei stood as the biggest advancer with a 1.3% gain.
The financial markets across the region accelerated after three consecutive days of weak sessions. The decline was mainly from rising inflation in the United States. However, the Federal Reserve calmed investors by reiterating that price pressures from the reopening of the U.S. economy would prove the transitory nature of inflation.