Asian shares gain as US inflation data not as bad as feared

Asian shares gain as US inflation data not as bad as feared

Share market sentiment was also capped by gains in oil and other commodity prices after Russian President Vladimir Putin said that on-and-off peace negotiations "have again returned to a dead-end situation for us", which also hurt the euro.







Reuters









April 13, 2022 / 09:23 AM IST





(Representative image)



Asian shares rose on Wednesday boosted by U.S. inflation figures that fared better than markets' worst expectations - and caused U.S. yields to pause their march higher - though Chinese shares remained pressured by COVID-19.

Share market sentiment was also capped by gains in oil and other commodity prices after Russian President Vladimir Putin said that on-and-off peace negotiations "have again returned to a dead-end situation for us", which also hurt the euro.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.5% and Japan's Nikkei jumped 1.54%.

S&P500 futures gained 0.2% and Nasdaq futures gained 0.57% in Asia trade.

Data published on Tuesday showed U.S. monthly consumer prices increased by the most in 16-1/2 years in March as war in Ukraine boosted the cost of gasoline to record highs, cementing the case for a 50 basis points interest rate hike from the Federal Reserve next