Asia markets edge up as rate hike fears temper recovery hope

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(The Malay Mail)

Markets mostly rose in Asia today but traders struggled to reconcile growing optimism about the global recovery with worries that the expected economic surge will fan inflation and force interest rates hikes sooner than expected.

A rally in equities across the world over the past year has started to run out of steam in recent weeks, despite the prospect of a sharp rebound in growth as coronavirus vaccines are rolled out, infections slow, lockdowns are eased and the United States prepares to pass another massive stimulus.

European indexes enjoyed a much-needed blast upwards — led by a record close in Frankfurt — after EU leaders pledged to double vaccine deliveries to 300 million doses between April and June, having been too slow out of the blocks with its immunisation programme.

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