Stocks of Asian companies trading in the United States rose Friday morning as China's premier expressed confidence that Beijing can control surging inflation.
Shares of several indices made up of companies in China, India, Japan and Korea were trading between 1 and 3 percent higher at midmorning.
The Hang Seng China 50 Index, for example rose 2.6 percent in morning trading. The BNY Mellon Asia 50 ADR Index, made up of Asian companies trading in the U.S., was up 1.1 percent.
Individual companies were riding the tide. Beijing-based China Life Insurance Co. gained $1.32, or 2.8 percent, at $49.32 and China Petroleum & Chemical Corp. added $1.83, or nearly 2 percent, to $96.11.
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