Chinese stocks climb; dollar steady before US inflation test

SINGAPORE - Asian stocks got a lift on Thursday from Chinese stocks as China's central bank kicked off its 500 billion yuan facility to spur capital markets, while the dollar lingered near a two-month high ahead of U.S. inflation data later in the day.

"It’s likely that if and when we get more details on the scale of spending, other policymakers will be better able to start to roll out supportive policies relevant to their functions," said ING economists in a note on Thursday. Benchmark indexes in China notched their biggest daily losses on Wednesday since the COVID-19 pandemic began.

However, there appeared even broader agreement that the initial move would not commit the Fed to any particular pace of rate reductions in the future, the minutes showed. September's CPI is likely to show core inflation holding steady at a 3.2% year-on-year clip, according to economists polled by Reuters.

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