Market Watch: Wall Street Surge After Inflation Data

Asian markets respond variably to Wall Street surge fueled by inflation data, with mixed performance in stocks and commodities.

Global Markets Overview

Asian Stock Markets

• Nikkei: Down 0.40%
• Shanghai Composite: Down 0.18%
• Hang Seng: Up 0.38%
• ASX: Up 0.22%

Commodities

• Gold: $2164.5 (-0.26%)
• Silver: $24.37 (-0.13%)
• Brent Oil: $82.53 (0.76%)
• WTI Oil: $78.19 (0.86%)

Rates

• U.S. 10-year yield: 4.142
• UK 10-year yield: 3.969
• Germany 10-year yield: 2.323

News & Data

• (USD) Core CPI m/m: 0.4% vs 0.3% expected
• (USD) CPI m/m: 0.4% vs 0.4% expected
• (USD) CPI y/y: 3.2% vs 3.1% expected

Market Watch: Wall Street Surge After Inflation Data

Markets Update

The Asian-Pacific markets responded with mixed sentiments today following a notable surge in Wall Street, propelled by U.S. inflation data that closely matched economists’ predictions. The Bureau of Labor Statistics reported a 0.4% monthly increase and a 3.2% year-over-year rise in February’s U.S. consumer price index.

In Australia, the S&P/ASX 200 continued its upward trajectory, closing the day 0.22% higher at 7,729.40, building on previous session gains. However, Japan’s Nikkei 225 experienced a reversal, initially rising before ultimately declining by 0.13%, and the Topix also slipped by 0.16% after early-session gains.

South Korea’s Kospi witnessed a modest increase of 0.27%, supported by a decrease in the February unemployment rate to 2.6%. Conversely, the Kosdaq, representing small-cap stocks, dipped by 0.26%, potentially signaling an end to its recent winning streak.

Hong Kong’s Hang Seng index extended its gains by 0.3%, adding to a 3% surge from the previous day, while mainland China’s CSI 300 dropped by 0.58%.

All three major indexes recorded gains after the inflation data release in the United States. The S&P500 soared to a new record high of 5,175.27, marking a 1.12% increase. The Nasdaq Composite experienced a more significant surge of 1.54%, fueled by renewed interest in tech stocks. This led to substantial gains in shares of Nvidia and Oracle. The Dow Jones Industrial Average closed with a 0.61% gain.

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The Asian markets remain cautiously optimistic amid global economic uncertainties, awaiting further developments in inflation trends and monetary policy adjustments from central banks worldwide.

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