European, Asian stocks rise as traders eye US inflation

rose Monday in holiday-thinned trading, with investors awaiting fresh US and European inflation data for more clarity on the outlook for interest rates.

Hong Kong, Tokyo, Shanghai, Sydney, Seoul, Mumbai, Singapore, Bangkok and Taipei all rose, though there were some losses in Jakarta, Manila and Wellington. “Investors will look to US PCE print this Friday as a potential signpost for further market directions,” Ng added. “While last week began on optimism that inflation could allow the Fed to cut rates as early as in September, this week begins on pessimism that the latter will probably not be possible,’ said Ipek Ozkardeskaya, senior analyst at Swissquote bank.While the Fed holds on rate cuts, eurozone inflation data for May will be released on Friday and a further cooling would reaffirm expectations that the European Central Bank will cut rates in June.

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