Asia markets mostly rise but virus, inflation fears linger

HONG KONG (AFP): Most markets rose in Asia on Tuesday (May 17) as investors looked past rising virus infections in the region and bet on the global recovery, with Tokyo brushing off data showing the Japanese economy shrank more than expected in the first quarter.

Traders built on a broadly positive previous day, despite a retreat on Wall Street, bringing some much-needed stability after last week's topsy-turvy performance as Federal Reserve officials continue to reassure that fears of long-term red-hot inflation were misplaced.