Wall Street

Asia stocks advance as investors weigh impact of hawkish central banks

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Reuters

By Selena Li HONG KONG (Reuters) – Asia stocks rose on Wednesday, encouraged by a rally on Wall Street, but gains were kept in check by worries that aggressive central bank policy tightening will stifle global growth and raise the risks of stagflation. The World Bank on Tuesday slashed its global growth forecast by nearly a third to 2.9% for 2022, warning that Russia’s invasion of Ukraine has compounded the damage from the COVID-19 pandemic, and many countries now faced recession. Nevertheless, U.S. stocks rallied to end higher for a second straight day, buoying the mood in Asia.[.N] MSCI’s br…

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