Asian markets rally on promising earnings

HONG KONG, China: Asian markets extended a global rally on Friday on optimism for corporate earnings after a strong start to the reporting season while traders cheered better-than-expected data indicating the US recovery remains on track despite inflation concerns and the imminent end to cheap cash.

Central banks around the world are preparing to — or in some cases have started — winding back the vast financial support put in place at the start of the pandemic, which has helped economies rebound and pushed equities to record or multiyear highs.