Asian Stock Market: Traces sluggish S&P 500 Futures to flash mixed signals, yields retreat

Asia-Pacific equities trade mixed amid lackluster markets ahead of China, US inflation.

While portraying the mood, MSCI’s index of Asia-Pacific shares outside Japan rises 0.24% as it grinds near the seven-month high. On the same line, Japan’sIt’s worth noting that the Chinese Securities Journal fuelled speculations that the People’s Bank of China will adhere to rate cuts in 2023, which in turn allowed shares in China and Hong Kong, as well as in Australia, to remain firmer.

It should be observed that the global central bank policymakers’ hesitance in providing any major monetary policy signal at the Riksbank event, which took place on Tuesday, joined mixed US data to underpin cautious optimism on a broader front. While portraying the same, US 10-year Treasury bond yields retreat to 3.58% after rising 10 basis points to 3.61% the previous day. On the same line, the upbeat Wall Street closing helps S&P 500 Futures to print mild gains around 3,945.

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