Asian stocks gain as prospects of China recovery, and Fed caution

By Julie Zhu HONG KONG (Reuters) -Asian shares rose on Friday on prospects for a steady economic recovery in China, and after Wall Street reversed losses overnight following remarks by the Atlanta Federal Reserve chief that signalled a measured approach raising U.S. interest rates. Global markets have been buffeted by a raft of strong U.S. data over recent weeks, including U.S. jobless claims overnight, that suggested the Fed would need to keep rates higher for longer. But investors breathed a sigh of relief after Atlanta Federal Reserve President Raphael Bostic said he favoured “slow and stea…

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