Stocks mixed as inflation, rate woes temper rally

By Agence France-Presse

Jun 01, 2022 12:18 am

HONG KONG: Stock markets were mixed on Tuesday as investors battled to maintain a global rally, with inflation still niggling over a pickup in oil prices while a top Federal Reserve (Fed) official pressed for a series of sharp rate hikes.

But optimism was boosted by data indicating an improvement in China's crucial manufacturing sector, helped by the easing of some strict Covid-19 containment measures in major cities, including economic hub Shanghai.

OUR DAILY BREAD This May 26, 2022 file photo shows the price of packed loaves of bread on display on one supermarket shelf in Washington, D.C. as inflation in the United States remains elevated. AFP PHOTO

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