Asia markets rise as investors assess U.S. inflation data, Japan business sentiment

Asia markets rise as investors assess U.S. inflation data, Japan business sentiment


Pedestrians walk past Japanese national flags decorating a street in the popular tourist area of Ginza as people do last minute shopping before the New Year’s holidays, in central Tokyo on December 30, 2024. 

Richard A. Brooks | AFP | Getty Images

Asia-Pacific markets rose Wednesday, following a softer-than-expected inflation data from the U.S. that sent two key Wall Street benchmarks higher overnight.

The producer price index, which measures wholesale inflation, climbed just 0.2% in December, according to the Bureau of Labor Statistics. Economists polled by Dow Jones had estimated a 0.4% rise. Core PPI, which excludes food and energy, came in flat.

Investors in Asia also assessed the Reuters Tankan survey from Japan for January, which mirrors the Bank of Japan’s quarterly Tankan survey.

Business sentiment among large manufacturers rebounded, with the Tankan reading coming in at plus 2, after dipping into negative territory for the first time in 10 months in December with a reading of minus 1 in December.

Optimism among non-manufacturers edged up to plus 31, from plus 30 in December.

The benchmark Nikkei 225 was up, with 0.75% while the broad-based Topix gained 0.86%.

Meanwhile, South Korea’s Kospi was up 0.95% while the small-cap Kosdaq Index added 0.53%. South Korean investigators are attempting to arrest impeached President Yoon Suk Yeol for a second time.

Futures for Hong Kong’s Hang Seng index stood at 19,217 pointing to a weaker open compared to the HSI’s close of 19,219.78.

Australia’s S&P/ASX 200 has gained 0.29%.

Overnight in the U.S., the Dow Jones Industrial Average climbed 0.52% while the S&P 500 advanced 0.11% after the PPI report to 5,842.91. In contrast, the tech-heavy Nasdaq Composite slipped 0.23%.

— CNBC’s Hakyung Kim and Brian Evans contributed to this report.



Source

Tesla says it made its first driverless delivery of a new car to a customer
World

Tesla says it made its first driverless delivery of a new car to a customer

A Tesla logo outside the company’s Tilburg Factory and Delivery Center. Karol Serewis | Getty Images Tesla CEO Elon Musk said the automaker completed its first driverless delivery of a new car to a customer, routing a Model Y SUV from the company’s Austin, Texas, Gigafactory to an apartment building in the area on June […]

Read More
I’m 79 years old and the ‘father of functional medicine’: Here’s my daily routine for a healthy life
World

I’m 79 years old and the ‘father of functional medicine’: Here’s my daily routine for a healthy life

Jeffrey Bland, 79, is considered the “father of functional medicine.” He’s devoted most of his lifetime to studying the origins of diseases to focus on prevention in healthcare. The main question Bland’s research looks to answer is this one: “Could we move to a form of healthcare where we’re spending more time worrying about and […]

Read More
Stock market reclaims February record peak. How the fundamentals and technicals look now vs. then
World

Stock market reclaims February record peak. How the fundamentals and technicals look now vs. then

Just as they say you never step into the same river twice, the view from a given summit is never quite the same upon a second visit. The S & P 500 has fully scaled its way to its first record high in more than four months on Friday, recovering what was at the intraday […]

Read More