Japanese shares led a rebound in Asian markets on Friday, building on the lead from investors on Wall Street snapping up stocks that would benefit most from an economic recovery. The rally interrupted a three-day rout for stocks globally, as market jitters over accelerating US inflation were calmed by Federal Reserve officials reiterating that price pressures from the reopening of the economy would prove transitory.

In cryptocurrencies, bitcoin recovered to just below $50,000 on Friday, after plunging to a two-and-a-half-month low of $45,700 in the previous session, when a media report of a regulatory probe into crypto exchange Binance added to pressure from Tesla CEO Elon Musk’s reversing his stance on accepting the digital currency. ..

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