Beijing supports China's battered tech giants. Military aid for India is being prepared by the US. Australia's prime minister could be hurt by tough talk on China. Here is what you need to know.
China's top economic official gave an unusual public show of support for digital platform companies, suggesting Beijing may be ready to let up on a year-long clampdown on tech giants. China is looking to the internet industry to revive an economy that has been hit by lock-ups. The results from the March quarter are expected to show revenue rose by a mere 4.3%, while the growth rate is expected to be 7.1%.
The Fed chair repeatedly stressed the need for evidence that inflation is in retreat.
Asian stocks may get a boost Wednesday from a US rally driven in part by speculation that China will loosen its tech restrictions. A gauge of Chinese shares in the US went up. Russia's ability to pay US bondholders after a deadline expires next week is in danger of being fully blocked by the Biden administration.
The US is preparing a military aid package for India to deepen security ties and reduce the country's dependence on Russian weapons, people familiar with the matter said. The full story can be found here.
Scott Morrison is one of the most outspoken leaders in pushing back against China. His tough language could hurt him more than help in some of the key seats that may swing Saturday's election. The seats where Chinese Australians made up more than 10% of the voters could decide who is the next prime minister, according to one think tank.
After the nation's top economic official gave an unusual public show of support for digital platform companies, Chinese tech shares surged. Still, investors will be looking out for any new actions that may be a little bit friendlier. There is a worrying backdrop for tech companies worldwide, given the way that the Federal Reserve has committed to aggressive interest-rate hikes.
There is a lot of repair work that needs to be done for tech sector stocks if Beijing is prepared to let up on its year-long curb on technology giants. The authorities have signaled a softer approach before, so investors who are bold enough to dive back in are likely to take profits at the first hint of trouble.
Garfield Reynolds is the Chief Rates Correspondent for Bloomberg News in Asia.
With assistance by Garfield Clinton Reynolds.
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