Asian shares gain as US inflation data not as bad as feared - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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Asian shares rose on Wednesday boosted by US inflation figures that fared better than markets’ worst expectations – and caused US yields to pause their march higher – though Chinese shares remained pressured by COVID-19.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.5% and Japan's Nikkei jumped 1.54%.MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.5% and Japan's Nikkei jumped 1.54%.

However, monthly underlying inflation pressures moderated as goods prices, excluding food and energy, dropped by the most in two years. “While this is unlikely to change the trajectory of the Fed from hiking 50 basis points in May, if inflation continues on this path there will be less pressure on them to be overly aggressive in the second half of the year.”

 

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