Positive signals from Chinese technology companies in global markets supported the risk appetite.
Asian Stocks are rising this morning due to the positive closing of the US stock markets and the positive balance sheets from the Chinese technology companies.
S&P 500 index in the USA closed with 1.99 percent and the Nasdaq 100 with 2.79 percent gains. Despite the rising inflation, the increase in the first quarter personal consumption data positively affected the stocks.
Citigroup strategists downgraded their recommendations for US stocks to ‘neutral’ due to recession risk and warned of a slowdown in growth. It was stated that the uncertainty in the USA was very high, and the US Federal Reserve did not address the concerns very much.
