Asian Stocks Fluctuate as Traders Await US CPI: Markets Wrap

-- Asian stocks fluctuated as traders shrugged off a rebound on Wall Street ahead of key US inflation data due this week.Stocks in Tokyo and Sydney inched up, with Hong Kong futures pointing to gains. The moves come after a rise on Wall Street, a reprieve from the September selloff triggered by concerns of a global economic slowdown. Stocks in Seoul fell.

While the jury is out on whether the world’s no. 1 economy can thread the needle between easing inflationary pressures while avoiding recession, its biggest rival is facing a different challenge. Deflation stalking China since last year is now showing signs of spiraling, threatening to worsen its outlook and raising calls for immediate policy action.

“Inflation matters,” said Chris Low at FHN Financial. “Weaker numbers might encourage the Fed toward a 50 basis-point cut, while anything higher could lock in 25 basis points.” PayPal Holdings Inc. added Shopify Inc. to its list of recent partnerships, reaching a deal to process some of the payment company’s debit- and credit-card transactions.

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