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. "The ultimate goal for the Chinese market isn’t to create sudden rallies. It’s all about wanting to inject confidence in the economy domestically, to relieve pressure on the real estate market. Their end objective is domestic stability," said Henry Wu, head of XTrackers Products US.Overnight, the S&P 500 and the Dow closed at record highs after the release of Federal Reserve meeting minutes and ahead of September inflation data.

Investor focus will be on inflation data on Thursday in the form of the consumer price index for insight into the Fed's rate path, while the corporate earnings season kicks off with bank earnings on Friday. The shifting U.S. interest rate expectations have boosted the dollar, with the dollar index, which measures the currency against six key rivals, steady after climbing to the highest since Aug. 16 overnight. In commodities, oil prices were higher as investors contended with rising tensions in the Middle East and its impact on oil supply, as well as a spike in demand as a major storm barrelled into Florida.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Stock market today: Asian shares gain as China eases rates to aid property industryAsian shares advanced Tuesday, with Chinese markets logging the biggest gains after the central bank announced a slew of measures to support the economy.
Источник: YahooFinanceCA - 🏆 47. / 63 Прочитайте больше »

Stock market today: Asian shares gain as China eases rates to aid property industryAsian shares advanced Tuesday, with Chinese markets logging big gains after the central bank announced a slew of measures to support the economy.
Источник: YahooFinanceCA - 🏆 47. / 63 Прочитайте больше »

Stock market today: Asian shares extend gains after China-driven rallyA China-led rally faded Wednesday, leaving Asian shares mixed after a strong start that extended gains overnight on Wall Street.
Источник: YahooFinanceCA - 🏆 47. / 63 Прочитайте больше »

Asian stocks mixed amid weak China data after Wall Street closes the best week of 2024HONG KONG (AP) — Asian stocks were mixed on Monday with several key markets closed for a holiday, after U.S. stocks finished their best week of the year and ...
Источник: YahooFinanceCA - 🏆 47. / 63 Прочитайте больше »

Asian stocks log modest gains as data show China's economy slowing furtherHONG KONG (AP) — Asian stocks started the week with modest gains after U.S. stocks finished their best week of the year, approaching record levels.
Источник: YahooFinanceCA - 🏆 47. / 63 Прочитайте больше »