Asia-Pacific markets trade higher after Wall Street declines on inflation fears

Asia-Pacific markets trade higher after Wall Street declines on inflation fears


Tokyo, Japan skyline with the Tokyo Tower

Chunyip Wong | E+ | Getty Images

Asia-Pacific markets traded higher Thursday, breaking ranks with Wall Street that fell overnight as a stronger-than-expected U.S. inflation reading diminished prospects of policy easing by the U.S. Federal Reserve.

Australia’s S&P/ASX 200 rose 0.26%.

Japan’s Nikkei 225 rose 1.1% while the Topix climbed 0.91%. South Korea’s Kospi traded 0.71% higher, while the small-cap Kosdaq traded around the flatline.

Hong Kong’s Hang Seng Index climbed 0.58% while mainland China’s CSI 300 traded flat.

Overnight in the U.S., the S&P 500 tumbled and bond yields spiked after consumer prices rose more than expected in January.

The broad market index slipped 0.27% to end at 6,051.97, and the Dow Jones Industrial Average tumbled 225.09 points, or 0.5%, to 44,368.56. The Nasdaq Composite eked out a 0.03% gain to close at 19,649.95.

The latest inflation data suggests that the Fed may be less likely to resume its rate-cutting campaign soon, as well as raises concerns that the next move could even be a hike.

During his testimony before the House Committee on Financial Services on Wednesday, Federal Reserve Chair Jerome Powell noted that the latest CPI data serves as a reminder of the Fed’s progress in moving inflation closer to its 2% target, but acknowledged that it is “not quite there yet.”

Indian Prime Minister Narendra Modi is traveling to the U.S. for talks with President Donald Trump and his administration and is expected to mitigate the threat of reciprocal tariffs as well as artificial intelligence policies.

— CNBC’s Pia Singh and Brian Evans contributed to this report.



Source

Bull market officially lives on with fresh S&P record, nears 1000 days
World

Bull market officially lives on with fresh S&P record, nears 1000 days

The S & P 500 punched through to a new record high on Friday, creating another milestone for a bull market that is now approaching its third birthday. The S & P 500 is up more than 70% since the current bull market began on Oct. 12, 2022, a period of 989 days, according to […]

Read More
Dan Niles says investors have to ‘forget about’ valuations and names his favorite tech stocks
World

Dan Niles says investors have to ‘forget about’ valuations and names his favorite tech stocks

Investors can suspend their focus on price to earnings and other multiples as the stock market rises to all-time highs, according to Dan Niles, portfolio manager and founder of Niles Investment Management. “You kind of have to forget about valuations for now,” Niles said on CNBC’s “Squawk on the Street.” “Then we’re going to get […]

Read More
Traders head into the second half of the year with stocks at all-time highs, jobs report pending
World

Traders head into the second half of the year with stocks at all-time highs, jobs report pending

Next week kicks off a new trading month as well as the back half of 2025, and Wall Street will be watching to see if stocks keep up their recent momentum. Stocks have made a massive comeback after seeing steep declines in early April, when investor anxiety around President Donald Trump’s sweeping tariff policy put […]

Read More