Global Markets: Investors dip into riskier tech, crude at $120

Global Markets: Investors dip into riskier tech, crude at $120

U.S. listed shares in Chinese ride-hailing firm Didi Global surged 50% premarket after the Wall Street Journal reported that Chinese regulators were preparing to allow the mobile app back in domestic app stores.

The news helped Hong Kong's Hang Seng tech index close 4.6% higher. Stocks in Europe were firmer from the open, with the STOXX index of 600 companies up 0.9%.

The shift back into riskier assets came ahead of central bank meetings that investors hope will give clarity on whether inflation has peaked and how much growth could slow down.

The European Central Bank meets on Thursday, though it is not expected to begin raising interest rates until July, with rate setters at the U.S. Federal Reserve and Bank of England gathering next week.

"There is still some doubt as to whether or not inflation has peaked," said Michael Hewson, chief markets analyst at CMC Markets.

"We are in a bit in a no-man's land at the moment with respect to peak inflation, and also China reopening and the possible tailwinds that might bring. Oil prices are still a headwind and so it's difficult to gain any direction," Hewson said.

The MSCI all country stock index gained 0.3%, its recent rebound from near bear-market