Asia shares edge up, sentiment fragile on China growth fears

Asia shares edge up, sentiment fragile on China growth fears

MSCI's broadest index of Asia-Pacific shares outside Japan ticked up 0.8%, helped by China's blue chip index adding 0.33%, after its worst day in two years on Monday. Hong Kong's benchmark Hang Seng Index also bounced 0.6%.







Reuters









April 26, 2022 / 09:38 AM IST





Asian shares were cautiously higher on Tuesday after a late revival on Wall street, though global growth fears stoked by China's stringent COVID-19 curbs and an expected streak of aggressive Federal Reserve tightening sapped risk appetite.

MSCI's broadest index of Asia-Pacific shares outside Japan ticked up 0.8%, helped by China's blue chip index adding 0.33%, after its worst day in two years on Monday. Hong Kong's benchmark Hang Seng Index also bounced 0.6%.

Yet sentiment remained fragile, after Twitter Inc shares rose on news that Elon Musk, the world's richest person, clinked a deal to pay $44 billion cash for the social media platform populated by millions of users and global leaders.

The nervousness about China's economic slowdown hit Australian shares in early trade, with the local benchmark down 1.78%, hurt particularly by declines in miners.

Japan's Nikkei stock index rose 0.57%. U.S. stock futures were little changed in