PT Solid Gold Berjangka | Asia markets rise after U.S. inflation comes in hotter than expected
Asia-Pacific markets rose across the board even as inflation in the U.S. inflation rate in August came in hotter than expected, at 3.7% compared to economists’ expectations of 3.6% in a Dow Jones survey.
Month-on-month, the consumer price index rose 0.6% in August, in line with expectations. In July, the CPI rose 3.2% year-on-year and 0.2% month-on-month.
However, excluding volatile food and energy costs, the core CPI rose 4.3%, in line with estimates and down from 4.7% in July. Federal Reserve officials focus more on core as it provides a better indication of where inflation is heading over the long term.
In Australia, the S&P/ASX 200 climbed marginally, ahead of August unemployment figures.
Japan’s Nikkei 225 rose 0.5%, while the Topix saw a smaller gain of 0.4%. South Korea’s Kospi inched up 0.43%, and the Kosdaq was 0.84% higher.
Futures for Hong Kong’s Hang Seng index stood at 18,042, also pointing to a stronger open compared to the HSI’s close of 18,009.22.
Source: CNBC
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