SINGAPORE — Shares in Asia-Pacific were mixed in Wednesday morning trade as investors watched for market reaction to the release of a slightly hotter-than-expected U.S. inflation report. New Zealand also hiked its rate by 50 basis points, its biggest increase in more than 20 years.
Chinese stocks traded in negative territory ahead of the release of its trade data for March, as concerns around the mainland’s Covid situation continue to weigh on investor sentiment.
The Shanghai composite slipped 0.7% while the Shenzhen component traded 0.91% lower. Hong Kong’s Hang Seng index also declined 0.48%.
The Nikkei 225 in Japan climbed 1.25% while the Topix index advanced 0.68%.
US CPI inflation might have peaked this month, assuming there is no further escalation of the conflict in Ukraine and oil prices evolve in line with the future curve going forward.
Silvia Dall’Angelo
Senior Economist, Federated Hermes
South Korea’s Kospi rose 0.78% while the S&P/ASX 200 in Australia edged 0.24%…
__________________________________________________
You can Read this Complete Story at:
Source Link
__________________________________________________
Tags:
Dow Today, Dow Jones Today
__________________________________________________
Related Links:
Stock Market
Latest News on C N N.
__________________________________________________
2022-04-12 23:40:25
