Disappointing corporate earnings and consumer confidence data helped pull the rug from under US and European equity markets yesterday as investors' recent appetite for risk finally showed signs of faltering.
But analysts suggested that the underlying mood remained cautiously optimistic given the positive effect of recent earnings releases and signs that Asia was recovering faster than Western economies.
Upbeat comments from central bank officials in Australia and China about their countries' economies underpinned the positive view of the region.
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