Asian Stock Market: Vulnerable ahead of US Inflation, China jumps on mixed inflation data

Consumer Price Index states that the inflation rate will stick to the previously reported figure of 8.3%. The US CPI is expected to sustain above 8% consecutively for the third month. This will keep the odds of a prolonged hawkish stance by the Federal Reserve higher.

At the press time, Japan’s Nikkei225 erased 1.40%, Nifty50 tumbled 1.23%, and Hang Seng slipped 0.23%. While China A50 jumped 0.30% on mixed inflation data. China’s National Bureau of Statistics has reported the annual inflation at 2.1%, similar to the prior print but a little lower than the estimates of 2.2%. While the Producer Price Index has come in line with the forecast of 6.4% and is significantly lower than the prior print of 8%. This has delighted the People’s Bank of China to keep up with the prudent monetary policy.

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