Global Markets Rally as Asia Strengthens Ahead of Biden-Xi Talks
Originally Published 2 years ago — by Reuters
Asian markets are expected to open strong on Wednesday following the surge in stocks and investor sentiment worldwide after the release of cooling U.S. inflation data, which suggests a potential economic 'soft landing'. Key events to watch include the release of third quarter Japanese GDP and Chinese economic data, as well as the meeting between U.S. President Joe Biden and Chinese President Xi Jinping at the Asia Pacific Economic Cooperation forum. China's yuan has already climbed to a three-month high ahead of the talks. Additionally, investors will be focusing on the third quarter earnings reports from JD.Com and Tencent Holdings in China.