Markets rise after strong US jobs, rebound in banks

Hong Kong (AFP) May 8, 2023

Asian and European markets rose Monday, tracking a rally on Wall Street fuelled by a strong rebound in US regional banks and forecast-beating jobs data that eased fears over a recession in the world's top economy. But investors remain wary of any further upheaval in the US financial system following last week's turmoil that saw the sale of the embattled First Republic Bank to JPMorgan Chase.