July 30, 2020

Asia tracks Wall St rally after dovish Fed but virus tempers gains

Hong Kong (AFP) – Asian markets mostly edged up Thursday after the Federal Reserve pledged to provide as much support as necessary to back up the US economy but trader sentiment remained clouded by a fresh wave of virus infections that threatens to throw any global recovery off track.While the central bank did not unveil any new measures and broadly met expectations, analysts said it instilled some much-needed confidence that the Fed had their back.Bank boss Jerome Powell said the Fed had noted the spike in new US cases was denting economic activity and warned the downturn was “the most severe…

source https://this.kiji.is/en/661406700175623265?c=648607265489716321

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