Asia stocks gain, dollar drifts as inflation tests await

SINGAPORE - Asian stocks rose on Friday and were poised for the fourth month of gains, while the dollar drifted lower, keeping the yen steady as investors await inflation readings from Europe and the U.S. that will likely dictate the path of interest rates globally.

Japan's Nikkei was up 0.20% and is flat for the month. China stocks also rose, with the blue-chip index up 0.23% while Hong Kong's Hang Seng index spiking 1.3% higher. Tony Sycamore, market analyst at IG, said the market is taking a more cautious approach to the European and U.S. PCE inflation data after upside surprises in Australia and German inflation reports earlier this week.

The Japanese authorities have been relatively restrained in their recent verbal warnings, possibly waiting for weaker U.S. economic data and a shift in Fed policy to support the yen, according to Charu Chanana, head of currency strategy at Saxo. But with the Fed looking likely to cut rates only towards the end of the year, the frail yen has been caught in the crosshairs of the vast gap between U.S.

The euro last fetched $1.0828 ahead of inflation report from euro zone that is set to influence the European Central Bank's policy path. The central bank is all but certain to cut rates in June but what comes after that remains uncertain.In commodities, oil prices eased after a surprise build in U.S. gasoline stocks weighed on the market. Brent futures was down 0.31% at $81.61 a barrel, while U.S. West Texas Intermediate crude CLc1 was down 0.36% at $77.63.

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Stock market today: Asian stocks drift after Wall Street closes another winning weekHONG KONG (AP) — Asian stocks were mostly lower on Monday after Wall Street coasted to the close of another winning week. U.S. futures were mixed and oil...
Källa: YahooFinanceCA - 🏆 47. / 63 Läs mer »

Stock market today: Asian shares track Wall Street's retreatShares retreated Thursday in Asia after U.S. stocks fell under the weight of higher yields in the bond market, with the Dow Jones Industrial Average giving...
Källa: YahooFinanceCA - 🏆 47. / 63 Läs mer »

Stock market today: Asian shares decline after a mixed post-holiday session on Wall StreetTOKYO (AP) — Asian shares were mostly lower Wednesday after a mixed session on Wall Street following a three-day holiday weekend.
Källa: YahooFinanceCA - 🏆 47. / 63 Läs mer »

Stock market today: Asian shares are mixed after US holiday quietTOKYO (AP) — Shares were mixed in Asia on Tuesday after U.S. markets were closed for the Memorial Day holiday. Oil prices and U.S. futures were higher.
Källa: YahooFinanceCA - 🏆 47. / 63 Läs mer »

Stock market today: Asian shares mostly higher after rebound on Wall StAsian shares were mostly higher on Monday after U.S. stocks bounced back from Wall Street’s worst day since April to finish higher for the week.
Källa: YahooFinanceCA - 🏆 47. / 63 Läs mer »