Asian stocks started Tuesday on the back foot as traders in most markets returned from the new year break to the same worries over interest rates.
File: A woman walks past an electronic board showing the numbers on the Tokyo Stock Exchange.BEIJING - Asian stocks started Tuesday on the back foot as traders in most markets returned from the new year break to the same worries over interest rates, China's growth and the Ukraine war, which fuelled a worldwide rout last year.
The widespread outbreak has fanned fresh concerns for the economic outlook as businesses are being forced to shut down, after having already been battered by the strict containment measures put in place for almost three years. "With the ongoing Covid tidal wave, investment sliding to a 10-quarter low, and new orders continuing to get battered, a meaningful first-quarter recovery is increasingly unrealistic," Derek Scissors, of CBBI, said.
Investors are also bracing for another series of central bank rate hikes in the early months of the year as monetary policymakers battle to rein in decades-high inflation.
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