Market News

Asia-Pacific Markets Amid Lingering Inflation Concerns

The Asia-Pacific markets displayed a diverse range of outcomes on the latest trading day as concerns about inflation persisted following the release of the U.S. Federal Reserve’s minutes from its July meeting. These concerns have the potential to trigger additional interest rate increases. The minutes underscored that due to the ongoing high levels of inflation and a tight labor market, several participants acknowledged significant upward risks to inflation, which might necessitate further tightening of the monetary policy.

Asia-Pacific Inflation Concerns

Hong Kong’s Hang Seng index managed a modest ascent of 0.23%, while China’s CSI 300 index edged up by 0.29%. In Australia, the S&P/ASX 200 index concluded with a decline of 0.68% at 7,146 points, marking its lowest point in over a month due to a minor uptick in the nation’s unemployment rate to 3.7% in July.

Japan’s Nikkei 225 index retreated by 0.61% to attain a level of 31,626, its lowest point since June, accompanied by the Topix index, which wrapped up 0.34% lower at 2,253.06.

South Korea’s Kospi wrapped up with a 0.23% drop at 2,519.85, extending its streak of five consecutive days of losses. On the contrary, the Kosdaq index stood apart from the trend, achieving a gain of 0.88% at 886.04.

Across the Pacific, in the United States, the Dow Jones Industrial Average witnessed a decline of 0.52%, the S&P 500 experienced a dip of 0.76%, and the Nasdaq Composite registered the most substantial loss, plummeting by 1.15%, all marking their second successive day of losses.

Looking ahead, there are several notable events to watch for:

  • 2:00 PM GMT: USD CB Leading Index m/m
  • 2:30 PM GMT: USD Natural Gas Storage
  • 11:01 PM GMT: GBP GfK Consumer Confidence
  • 11:30 PM GMT: JPY National Core CPI y/y

Lastly, stay updated with the Latest Market News. This is important for Traders!

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