Asia stocks hit 7-month high on China and CPI bets

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 47 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 66%

Business News News

Business Business Latest News,Business Business Headlines

SINGAPORE : Asian stock markets mostly pushed higher on Thursday, ahead of U.S. consumer price data that investors hope will confirm inflation is in retreat, while the yen rose with a report Japan will next week review the side-effects of its ultra-easy policy.Following gains for Wall Street indexes overn

SINGAPORE : Asian stock markets mostly pushed higher on Thursday, ahead of U.S. consumer price data that investors hope will confirm inflation is in retreat, while the yen rose with a report Japan will next week review the side-effects of its ultra-easy policy.

Due at 1330 GMT, economists expect the rise in core U.S. consumer prices slowed to an annual pace of 5.7 per cent in December, from 6 per cent a month earlier. Month-on-month headline inflation is seen at zero. "We expect a below consensus CPI print, which if it materialises, could push this rally even further."

Brent crude futures rose more than 3 per cent to $83 a barrel overnight. U.S. Treasuries rallied at the longer end of the curve, with benchmark 10-year yields down 6 bps to 3.5558 per cent and 30-year yields down 7 bps to 3.6874 per cent.Against hopes for gentler central banks in the West, investors are also hoping recovery in China can help global growth and are eyeing a potential policy shift in Japan.

Uniqlo parent Fast Retailing on Wednesday also gave inflation expectations something of a jolt in Japan by announcing plans for wages hikes of as much as 40 per cent.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines