Singapore — Asian stocks rose on Tuesday as traders in Korea returned from holidays in a mood to catch up on a global bounce, while other markets held steady ahead of US inflation data that will offer a crucial guide to the interest rate outlook.
S&P 500 futures were flat, as were European futures. Easing oil prices have markets optimistic that headline inflation will steady or slow in the US, and that this can reduce the need for future interest rate hikes. US crude is hovering below $90 a barrel, down nearly 30% since the middle of June and about where it traded before Russia’s invasion of Ukraine.
Asia data out on Tuesday offered a cloudy picture of regional economies. A 9% year-on-year jump in Japanese wholesale prices points to pressure on corporate margins, yet a slowdown in gains for August holds some hope of relief. Buyout giant KKR is refusing to improve a takeover bid for Australian hospital operator Ramsay Health Care .