{"id":34466,"date":"2023-07-12T02:33:33","date_gmt":"2023-07-12T06:33:33","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/asian-markets-mostly-gain-as-investors-await-u-s-inflation-data\/"},"modified":"2023-07-12T02:33:34","modified_gmt":"2023-07-12T06:33:34","slug":"asian-markets-mostly-gain-as-investors-await-u-s-inflation-data","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=34466","title":{"rendered":"Asian markets mostly gain as investors await U.S. inflation data"},"content":{"rendered":"
\n

BANGKOK \u2014 Asian shares were mostly higher on Wednesday after stocks advanced on Wall Street as investors awaited an update on U.S. inflation that will hopefully show a smaller increase in pain for everyone.<\/p>\n

Hong Kong\u2019s Hang Seng index
\n HSI,
\n +0.92%<\/bg-quote>
\n jumped 1.3% and the S&P\/ASX 200
\n XJO,
\n +0.38%<\/bg-quote>
\n in Australia added 0.4%. In Seoul, the Kospi
\n 180721,
\n +0.41%<\/bg-quote>
\n rose 0.3%.<\/p>\n

\n

Tokyo\u2019s Nikkei 225
\n NIK,
\n -0.81%<\/bg-quote>
\n dropped 0.8% after\u00a0North Korea\u00a0launched another missile into the sea. The Shanghai Composite Index
\n SHCOMP,
\n -0.49%<\/bg-quote>
\n slipped 0.1%.<\/p>\n

The North launched a long-range ballistic missile toward its eastern waters Wednesday, its neighbors said, two days after the North threatened \u201cshocking\u201d consequences to protest what it called a provocative U.S. reconnaissance activity near its territory.<\/p>\n

On Tuesday, the S&P 500
\n SPX,
\n +0.67%<\/bg-quote>
\n rose 0.7% to 4,439.26. The Dow Jones Industrial Average
\n DJIA,
\n +0.93%<\/bg-quote>
\n gained 0.9% to 34,261.42, and the Nasdaq composite
\n COMP,
\n +0.55%<\/bg-quote>
\n added 0.5% to 13,760.70.<\/p>\n

Much of Wall Street\u2019s gains for the day came at the end of trading, with about a third of the S&P 500\u2019s rise happening in the final 20 minutes.<\/p>\n

\u201cAlthough there was some lively action on a handful of stocks, most investors seem to be playing the waiting game ahead of some big U.S. inflation reports,\u201d Stephen Innes of SPI Asset Management said in a commentary.<\/p>\n

The week\u2019s main event will arrive later Wednesday, when the U.S. government will offer the latest update on inflation at the consumer level. Economists expect to see another slowdown, with prices 3.1% higher in June than a year earlier, down from inflation of 4% in May and just above 9% last summer.<\/p>\n

The hope on Wall Street is that a continued easing in inflation will convince the Federal Reserve to stop its hikes to interest rates soon. High rates have helped pull down inflation, but they\u2019ve also caused cracks in the banking, manufacturing and other industries while also hurting prices for stocks and other investments.<\/p>\n

Later in the week, companies will begin telling investors how much profit they made during the spring, and expectations are largely dim. Analysts are forecasting the sharpest drop in earnings per share for S&P 500 companies since the pandemic was crushing the global economy in the spring of 2020.<\/p>\n

Because of the low bar set for companies for the spring, they may be able to squeak past without much heroics.<\/p>\n

In other trading Wednesday, benchmark U.S. crude oil
\n CLQ23,
\n -0.13%<\/bg-quote>
\n gained 17 cents to $75.00 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude oil
\n BRNU23,
\n -0.15%<\/bg-quote>,<\/span>
\n the price basis for international trading, was up 22 cents at $78.45 a barrel.<\/p>\n

The dollar
\n USDJPY,
\n -0.66%<\/bg-quote>
\n fell to 139.61 Japanese yen from 140.44 yen. <\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

BANGKOK \u2014 Asian shares were mostly higher on Wednesday after stocks advanced on Wall Street as investors awaited an update on U.S. inflation that will hopefully show a smaller increase in pain for everyone. Hong Kong\u2019s Hang Seng index HSI, +0.92% jumped 1.3% and the S&P\/ASX 200 XJO, +0.38% in Australia added 0.4%. In Seoul, […]<\/p>\n","protected":false},"author":1,"featured_media":34467,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-34466","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nAsian markets mostly gain as investors await U.S. inflation data | iFintechWorld<\/title>\n<meta name=\"description\" content=\"BANGKOK \u2014 Asian shares were mostly higher on Wednesday after stocks advanced on Wall Street as investors awaited an update on U.S. inflation that will\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=34466\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" 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