[Your shopping cart is empty


Asia markets mixed as U.S. inflation cools more than expected

Asia-Pacific markets were mixed on Friday after inflation in the U.S. came in lower than expected, raising hopes markets could see a “soft landing” in the inflation fight.
July consumer prices gained 3.2% on an annual basis, less than the 3.3% consensus from economists polled by Dow Jones. On a month-to-month basis, inflation increased 0.2%, in-line with estimates.
The report also said real average weekly earnings were unchanged last month in another positive sign.
However, the core inflation rate — which strips out prices of food of energy — was at 4.7%, the lowest since October 2021 and lower than the 4.8% expected.
In Asia, Australia’s S&P/ASX 200 was 0.24% lower and ended the day at 7,340.1. South Korea’s Kospi was down 0.4% to close at 2,591.3 and the Kosdaq gained 0.1% to finish at 912.2.
Hong Kong’s Hang Seng index slipped 0.79% in its final hour, while stocks on mainland China fell. The CSI300 index was trading 2.3% down, closing at 3,884.25. Japan’s markets are closed for a public holiday.
Overnight in the U.S., all three major indexes gained on the softer inflation print, with the Dow Jones Industrial Average adding 0.15%. The S&P 500 inched up 0.03%, and the Nasdaq Composite rose 0.12%.
Aug 12, 2023 15:15
Number of visit : 159


Sender name is required
Email is required
Characters left: 500
Comment is required