Asia-Pacific markets rise as U.S. report looms

As investors anticipate the release of the August U.S. inflation report, Asia-Pacific markets advanced on Tuesday. Following a holiday, South Korea’s Kospi index increased 2.74 percent to 2,449.54 on Monday. Samsung Electronics and SK Hynix both saw significant gains.

The Topix index inched up 0.32% to 1,986.57, and the Nikkei 225 in Japan increased by 0.25 percent to 28,614.63. The S&P/ASX 200 index increased 0.65% to 7,009.70 in Australia.

Shanghai Composite in mainland China increased by a tiny amount to 3,263.80, and Shenzhen Component increased by 0.385% to 11,923.47. In the last hour of trading, the Hong Kong Hang Seng index fell 0.17%.

The largest MSCI index of Asia-Pacific stocks outside of Japan increased by 0.61%. According to a Dow Jones survey, August’s U.S. headline inflation is predicted to be lower. However, core inflation—which excludes energy and food—is anticipated to increase. Headline CPI is anticipated to register at 8%, down from 8.5% in July.

Pan Finance is a print journal and news website providing worldwide intelligence on finance, economics and global commerce. Known for our in-depth analysis and opinion pieces from esteemed academics and celebrated professionals; our readership consists of senior decision makers from across the globe.

Contact us