International Finance: Stocks extend gains in Asia amid inflation focus: markets wrap

📆 11/01/2023 4:40 a. m.
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Equities climbed in Asia on Wednesday, extending an advance seen on Wall Street as traders bet that the upcoming US consumer price index will show further softening.

Shares opened higher in Hong Kong, Japan and Australia after the S&P 500 moved back above its key 3,900 mark. US futures contracts inched higher in Asian trading.

Federal Reserve chair Jerome Powell refrained from commenting on the outlook for monetary policy at an event on Tuesday as traders look to Thursday’s inflation data for any signs of cooling. Any cooling of CPI figures could help build the case to slow its pace of rate hikes, even as some officials say it’s too early to declare victory over inflation.

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International Finance: Asia stocks climb as traders bet on Fed slowdown: markets wrapAsian stocks rose after US equities had their best day in more than a month on Friday as traders speculate that an unexpected contraction in services activity and a slowdown in wage growth will temper the Federal Reserve’s rate hike aggression.
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