All articles tagged with #china inflation
Asian stocks showed mixed performance with Japanese and South Korean markets leading gains due to a tech rebound, while China lagged despite a slight rise in inflation; regional markets were influenced by US futures and concerns over AI-driven tech valuations.
Asia-Pacific markets rose following Wall Street gains amid hopes for a Federal Reserve rate cut and positive economic data from China, with South Korea's Kospi reaching a record high and other regional indices also advancing.
Global equity markets rose, led by solid gains in US equities, as markets cheered the passage of a debt ceiling bill that averted a catastrophic US default. In addition, US data have been better than expected in recent weeks, according to the Economic Surprise Index. The market is now pricing in a 74% chance of a pause at the June 13-14 FOMC meeting, compared to 35% a week ago, after several Fed officials including the vice chair-designate pointed toward a ‘skip’ in June. In the coming week, US ISM Services PMI for May, along with China Caixin Services PMI for May on Monday. RBA interest rate decision and Euro area retail sales are due on Tuesday.
Gold prices rose moderately after the US producer price index report for April came in at up 0.2%, versus expectations for up 0.3% from March, and compares to a drop of 0.5% in the March report, month-on-month. The Bank of England raised its main interest rate by 0.25%, as expected. China’s inflation fell to the lowest level in two years, as the April consumer price index rose 0.1%, year-on-year. The silver bulls have the solid overall near-term technical advantage.