Asian markets mixed

5 May, 2021 12:00 AM printer

HONG KONG: Equity markets were mixed in Asian trade Tuesday as investors bide their time ahead of the release of key US jobs figures later in the week.

While the Dow and the S&P 500 on Wall Street provided a positive lead, there were few catalysts to drive business, with Tokyo and mainland China’s bourses closed for holidays, reports AFP.

Still, a top US Federal Reserve official provided some welcome comments as he reiterated the bank’s intention to maintain its ultra-loose monetary policy for the foreseeable future even as he predicted the world’s top economy would grow at its quickest pace since the 1980s.

In trying to soothe long-running fears that the expected burst of economic activity this year will fan inflation and force rate hikes, John Williams, president of the Fed’s influential New York branch, said: “It’s important not to overreact to this volatility in prices.”