Asian markets mixed as traders weigh Li remarks, Fed minutes

The Hong Kong and Shanghai stock exchanges are both down in the morning, while Sydney is also lower. Seoul, Singapore, Manila and Wellington edge up while Tokyo and Taipei are flat. – EPA pic, May 26, 2022.

ASIAN markets were mixed today as minutes indicating a less hawkish Fed were offset by China’s premier warning that the world’s number two economy was in some ways worse off now than during the early days of the pandemic.

The wind was immediately taken out of traders’ sails as they digested Li Keqiang’s warning, which comes as China sticks fast to a zero-Covid policy to eradicate the fast-spreading Omicron virus variant.

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