Stock market today: Asian shares meander, tracking Wall Street's mixed finish as dollar surges

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Shares are mixed in Asia after a lackluster finish on Wall Street following a report showing an uptick in inflation in the U.S. last month.

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A currency trader passes by a screen showing the Korea Composite Stock Price Index , left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Nov. 14, 2024. The dollar was trading at 156 Japanese yen, up from 155.49 yen, reflecting expectations that the dollar will gain against other currencies under the policies anticipated with the incoming administration of President-elect Donald Trump.Japan's Nikkei 225 index edged less than 0.1% higher, to 38,754.50 and the Kospi in South Korea advanced 0.5% to 2,429.23. Australia's S&P/ASX 200 gained 0.4% to 8,223.20.

U.S. consumer inflation accelerated in October to 2.6% from 2.4%, but an underlying measure called “core inflation” did not rise. Such core inflation can be a better predictor of future trends, economists say, so the figures added to expectations for more help from the Federal Reserve.to its target of 2%. It cut again earlier this month, and traders now see an improved probability of roughly 80% for a third cut at its meeting next month, according to data from CME Group.

 

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