Asian stock markets have followed Wall Street higher for a second day as optimism about a global economic recovery appears to be outweighing concern over rising coronavirus cases
BEIJING -- Asian stock markets followed Wall Street higher Thursday for a second day as optimism about an economic recovery appeared to outweigh concern over rising coronavirus cases and inflation. Market benchmarks in Shanghai, Hong Kong, Seoul and Sydney advanced. Japanese markets were closed for a holiday. Overnight, Wall Street's S&P 500 index rose 0.8%, putting it on pace for a weekly gain after rebounding from Monday's 1.6% loss. Investors are wavering between optimism about a global recovery and unease that it might be delayed by the spread of the virus's more contagious delta variant. They also worry central bankers might feel pressure to tame rising inflation by rolling back easy credit.