Asian Markets Rally: Japan’s Industry Beats The rate of inflation Demands, reaching 0.6% for February; Hang Seng Soars Over 3% in Third Consecutive Win, CSI 300 Gains 0.23%
The CSI 300 in mainland China increased 0.23% to close at 3,597.49, while Hong Kong’s Hang Seng index surged almost 3% to lead advances in Asia-Pacific markets and was poised to extend its winning run to three days.
This coincides with a rise in Japan’s corporate inflation rate to 0.6% in February, beyond the 0.5% predicted by Reuters polling of economists and up from 0.2% in January.
Market Update: S&P/ASX 200 Rebounds in the Australian Market, Nikkei 225 Dips Amid Concerns About Inflation
Strong inflation data may potentially pave the way for an early rate increase by the Bank of Japan, which would be negative for Japan’s equity markets.
For the second day in a row, the Nikkei 225 in Japan fell, losing 0.06% to close at 38,797.51. The broad-based Topix fell, finishing at 2,657.24 with a loss of 0.36%.
The S&P/ASX 200 in Australia rose and closed at 7,712.5, up 0.11%.
Asian markets rebound: the Kospi and Kosdaq in South Korea rise, while observers look to inflation data for clues about the Federal Reserve’s interest rate decisions.
The Kospi in South Korea recovered some ground as well, ending at 2,681.81 after rising 0.83%, and the Kosdaq small cap saw a rise of 1.57% to reach 889.71, the highest point since September 2023.
Later on Tuesday, investors will also be watching inflation data from the United States and India, which may provide insight into the timing of the Federal Reserve’s interest rate reduction.
S. Market Update: Tech Rally Cools, S&P 500 and Nasdaq Fall for Second Straight Session, Dow Jones Reveals a Modest Gain Against the Trend
The tech boom continues to fade, and overnight in the U.S., all three major indices finished the session neutral. The S&P 500 and Nasdaq Composite saw their second consecutive negative session, sliding 0.11% and 0.41%, respectively.
With a 0.12% increase, the Dow Jones Industrial Average defied the trend.
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