Asian shares mostly higher as virus fears ease
ABC News
Stocks are mostly higher in Asia after another broad rally on Wall Street as investors wager that the new variant of the COVID-19 virus won’t pose a big threat to the economy
BANGKOK -- Stocks advanced Wednesday in Asia after another broad rally on Wall Street as investors wagered that the new variant of the COVID-19 virus won’t pose a big threat to the economy.
Shares rose in Tokyo, Shanghai and Seoul, while Hong Kong declined. Oil prices fell back.
Japan downgraded its growth estimate for the last quarter to minus 3.6% from an earlier reported contraction of 3.0%. The change reflected weaker consumer and public demand and trade and lower levels of private inventories.
Economists are forecasting a rebound in the current quarter, thanks to a recovery in activity as coronavirus caseloads plummeted.
