Asia markets climb ahead of consumer confidence data from Japan, business confidence survey from Australia

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Investors in Asia will observe business confidence surveys out from Australia and consumer confidence data from Japan.

Asia-Pacific markets climbed Tuesday as investors awaited business confidence surveys from Australia and consumer confidence data from Japan, with focus also on U.S. inflation numbers to assess the Federal Reserve's rate cut path.

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The investment bank predicts the data center sector will grow between 15% and 20% in 2024 and 2025, and"healthy" double-digit growth in the following years. "This suggests there is likely more upside for the group, as it just broke out of a two-year base with relative strength turning up," Jonathan Krinsky, a technical analyst with BTIG, told clients Sunday.Coming quarters will see higher inflation, says Apollo's chief economist Torsten Slok

Against this backdrop, Slok pointed out that gains in equity market are spreading to other sectors beyond technology. He advised investors to seek out winners and losers from a"bottom-up perspective," rather than just reaching for the"Magnificent Seven," which posted sky-high returns last year.U.S. Treasury Secretary Janet Yellen attends a press conference at the U.S. Ambassador's residence in Beijing on April 8, 2024.

 

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