Asian Stock Market: Indices display rough recovery firmer market mood, oil advances, US CPI eyed

ugging off uncertainty ahead of the United States Consumer Price Index data, which will release on Tuesday.At the press time, Japan’s Nikkei225 gained 0.31%, ChinaA50 added 0.38% and Hang Seng jumped 0.93%.

S&P500 displayed a solid recovery on Monday as the street is expecting a further slowdown in the US inflation data. The odds for a decline in inflation have been cemented by a significant drop in US data. A sheer decline in prices of goods at the factory gate has trimmed consensus for inflationary pressures.

The headline inflation is expected to drop to 7.3% while the core CPI that excludes oil and food prices is seen lower at 6.1%. Analysts at JP Morgan Chase & Co. have cited that a soft reading in US CPI data could spark a powerful rally in US equities. The 500-stock basket of the United States could rally up to 10% if headline inflation drops to 6.9% or lower, as reported by Bloomberg.

Meanwhile, further ease in lockdown restrictions in China is expected to bring a recovery in Chinese equities ahead. The rollback of restrictions on the movement of men, materials, and machines has brought optimism to the second-largest economy. In a note from banking giant Morgan Stanley, chief China equity strategist Laura Wang wrote, “Multiple positive developments alongside a clear path set toward reopening warrant an upgrade and index target increases for China.

On the oil front, the supply crisis in the US led by a shutdown of the main pipeline that passes oil has triggered the risk of

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