Shares up on rate hopes amid China's Covid cases

By Agence France-Presse

Nov 24, 2022 12:11 am

HONG KONG: Asian and European markets rose on Wednesday as traders flitted between hopes for a halt in sharp United States interest rate hikes and concern that a surge in China's coronavirus cases would see officials impose more painful lockdowns.

Wall Street enjoyed a timely rally, thanks to healthy retailer earnings and ahead of the holiday shopping season that starts this week, amid signs that US consumers — the economy's key driver — remain resilient to higher borrowing costs and inflation.

Security personnel in protective gear guard the entrance to a residential area under lockdown in China’s capital Beijing on Tuesday, Nov. 22, 2022. AFP PHOTO

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