Asian shares advance on back of Wall St rally

By Agence France-Presse

Mar 23, 2023 12:09 am

HONG KONG: Asia extended a global equities rally on Wednesday as more pledges of government support soothed worries over the banking sector and provided some much-needed stability after more than a week of upheaval.

The dialing down of volatility allowed traders to turn their focus on the US Federal Reserve's (Fed) policy decision later in the day, with the recent turmoil fueling hope it will hold off on an expected sharp hike in interest rates.

A man wearing a face mask walks past an electronic foreign currency exchange rates in downtown Seoul, South Korea on Wednesday, March 22, 2023. Asian shares advanced Wednesday after a Wall St rally led by the banks most beaten down by the industry’s crisis. AP PHOTO

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