Asian markets track Wall St higher, tech leads Hong Kong rally – INQUIRER.net

HONG KONG – Asian markets climbed Friday following a strong performance on Wall Street, with Hong Kong leading the way as forecast-beating earnings reports by tech titans Alibaba and Baidu sent their shares soaring.

The positive mood put the region on course to end the week on a healthy note, and came after Federal Reserve minutes indicated the US central bank could take a breather in hiking interest rates if inflation shows signs of easing later in the year.

Still, confidence on trading floors remains at a premium owing to a range of crises including soaring prices, tighter monetary policy, China’s Covid lockdowns and the war in Ukraine.

Investors were in a buying mood Friday as Hong Kong jumped more than three percent with market heavyweight Alibaba piling on more than 12 percent and search engine Baidu advancing more than 15 percent.

The two firms posted better-than-expected sales growth in the January-March quarter, soothing fears about the impact of Covid and inflation on…

Read Full Story: https://business.inquirer.net/348854/asian-markets-track-wall-st-higher-tech-leads-hong-kong-rally

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