STORY CONTINUES BELOW THESE SALTWIRE VIDEOSSINGAPORE - Asian stocks rose on Thursday, as traders figured a small upside surprise for U.S. inflation was unlikely to push up interest rates and turned their focus to a European Central Bank meeting later in the session.
"I think markets are largely prepared for a rebound in inflation, given the rapidly rising global energy prices," said Glenn Yin, head of research and analysis at AETOS Capital Group in Melbourne. Also overnight chip designer Arm Holdings secured a $54.5 billion valuation, with its IPO pricing at $51-a-share at the top of the indicated range. It begins trading on Thursday.Around Asia stock moves were mostly modest, with the Hang Seng up 0.2%, South Korea's Kospi up 0.9% and mainland Chinese markets flat. Chinese electric vehicle stocks slipped after the EU announced a probe into their subsidies.
Elsewhere in foreign exchange markets the Australian dollar was boosted by a surge in employment in August and it rose about 0.4% to $0.6440. Interest rate expectations were little changed.
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Stock market today: Asian shares trade mixed after Big Tech rally on Wall StreetTOKYO (AP) — Asian shares were trading mixed Tuesday following a Big Tech rally on Wall Street, as investors awaited an update on U.S. consumer prices set for later in the week. Japan's benchmark Nikkei 225 surged 1.0% to 32,776.37. Australia's S&P/ASX 200 added 0.2% to 7,206.90. South Korea's Kospi shed 0.8% to 2,536.80. Hong Kong's Hang Seng dropped 0.2% to 18,056.17, while the Shanghai Composite fell nearly 0.2% to 3,137.73. The Federal Reserve is weighing whether to keep raising interest rat
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Asian Stocks Poised for Cautious Open; Oil Rallies: Markets Wrap(Bloomberg) -- Asian equities look set for a cautious open Wednesday as global markets gear up for a key inflation report that’s expected to bring insights on the outlook for the Federal Reserve’s benchmark interest rate. Oil rallied on strains in global supplies.Most Read from BloombergApple iPhone 15 Event Will Tout Enhanced Camera, Titanium FinishTrudeau Is Stuck in India With Faulty Aircraft After Hearing Criticism From ModiThe Mighty American Consumer Is About to Hit a Wall, Investors SayAp
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Asian Stocks Poised for Cautious Open; Oil Rallies: Markets WrapAsian equities look set for a cautious open Wednesday as global markets gear up for a key inflation report that’s expected to bring insights on the outlook for the Federal Reserve’s benchmark interest rate. Oil rallied on strains in global supplies.
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