BANGKOK — Shares were mostly higher in Asia on Tuesday after China’s central bank moved to provide more support for its slowing economy.
Oil prices fell back, while U.S. futures advanced, suggesting investor sentiment remains resilient despite worries over the risks of recession as prices push sharply higher while economies are still recovering from the impact of the pandemic.
Hong Kong’s Hang Seng index declined 2.2% to 21,058.78, weighed down by worries over Chinese property developers and regulatory crackdowns on technology companies.
The People’s Bank of China conducted a 10 billion yuan ($1.6 billion) reverse repo operation to help add liquidity to the banking system, the state-run Xinhua News Agency reported. In a reverse repo, the central bank buys securities from commercial banks with an agreement to sell them back in the future.
Meanwhile, the central bank,…
