rength in Asia. US equities recorded back-to-back bullish settlements as investors are confident that the US Treasury won't’ default either by a bipartisan between the White House and Republican leaders or the exercise of the 14At the press time, Japan’s Nikkei jumped 0.73%, SZSE Component gained 0.51%, Hang Seng plunged 1.21% and Nifty50 dropped 0.31%.
Japanese stocks have driven Asian markets higher as the Bank of Japan is anticipated to remain ultra-dovish despite an acceleration in inflationary figures. National headline Consumer Price Index jumped to 3.5% from the prior release of 3.2% while the street was anticipating a deceleration to 2.5%. Core CPI that doesn’t include food and energy prices accelerated to 4.1% vs. the consensus of 3.4% and the former release of 3.8%.
Chinese equities are expected to remain on tenterhooks ahead of the interest rate decision by the People’s Bank of China , which is scheduled for next week. The PBoC is expected to remain expansionary as the Chinese economy is on track to recovery after a long period of lockdown due to pandemic controls.
Meanwhile, China’s President Xi Jinping said on Friday, “The country will expand trade facilitation measures and strengthen bilateral investment treaties with Central Asian countries.” He further added Central Asia has the basis, conditions, and ability to become an important hub for Eurasian connectivity.
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