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Asian Stock Market: Nikkei225 drops as Japan’s inflation accelerates, oil struggles to defend $77.00

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Asian Stock Market: Nikkei225 drops as Japan’s inflation accelerates, oil struggles to defend $77.00 – by Sagar_Dua24 Asia Nikkei Inflation Oil PBOC

s their focus toward a fresh rate hike from the Federal Reserve . Continuous hawkish commentaries from Fed policymakers are weighing heavily on market sentiment.consecutive lower-than-projected weekly jobless claims data. The number of individuals claiming due to unemployment rose to 245K from the consensus of 240K. This signals a cool down in the tight labor market but doesn’t fade the need of more rate hikes from the Fed.

data. Annual national CPI accelerated to 3.2% from the consensus of 2.6% and core PCI jumped to 3.8% vs. the estimates of 3.4%.

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