Asia markets rise after Wall Street soars on soft inflation data
Istanbul, May 16 (Hibya) - Asia-Pacific markets responded positively on Thursday to the news of Wall Street benchmarks closing at record highs overnight, a significant event driven by soft inflation data. This development, coupled with the ongoing assessment of Japan's GDP data, has set the stage for a potentially impactful day in the global financial markets.
The U.S. consumer price index rose 0.3 percent in April, below the 0.4 percent rise predicted by the Dow Jones. U.S. CPI climbed 3.4 percent yearly, which aligns with market estimates.
Japan’s first-quarter GDP took an unexpected turn, contracting at an annualised rate of 2.0 percent, surpassing the 1.5 percent anticipated in a Reuters poll. This surprising data could potentially disrupt the Bank of Japan’s plans to raise interest rates.
Japan’s Nikkei 225 added 0.77 percent, while the broader Topix reversed earlier gains to trade 0.18 percent lower.
Hong Kong’s Hang Seng index reopened after a holiday to rise 0.27 percent. Mainland China’s CSI 300 index gained 0.1 percent. South Korea’s markets resumed trading after a holiday, with the Kospi increasing 1 percent and the smaller-cap Kosdaq adding 1.04 percent. In Australia, the S&P/ASX 200 index gained 1.7 percent.
Usa News Agency
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