Asian stock markets were mostly higher Tuesday as investors braced for another sharp interest rate hike by the Federal Reserve to cool inflation.
The Shanghai Composite Index CN:SHCOMP rose 0.8% while the Nikkei 225 JP:NIK in Tokyo as about flat. The Hang Seng HK:HSI in Hong Kong gained 1.4%.The Shanghai Composite Index SHCOMP rose 0.8% while the Nikkei 225 NIK in Tokyo as about flat. The Hang Seng HSI in Hong Kong gained 1.4%.
CEO Daniel Zhang said the company was pursuing another primary listing venue to foster a wider, diverse investor base. That would appear to be mainly mainland Chinese investors. Mixed market reactions suggest investor sentiments are split and optimists hope for a “Fed dial back,” said Tan Boon Heng of Mizuho Bank in a report.
The major indexes are coming off solid gains last week following a mix of mostly better-than-expected reports on corporate profits.
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