Asian Stocks Up Ahead of U.S. Inflation Data

SourceInvesting.com
SectorFinancial Markets
CountryMiddle east

© Reuters.

By Gina Lee

Investing.com – Asia Pacific stocks were up Thursday morning as investors await U.S. inflation data to be released later in the day to get hints of the possibility of tapering asset purchases.

The benchmark fell below 1.5% for the first time in a month.

China’s was up 0.30% by 10:02 PM ET (2:02 AM GMT) while the rose 0.41%.

U.S.-China tensions are on investors’ radar. U.S. president Joe Biden on Wednesday to revoke Trump-era bans on TikTok and WeChat. Instead, the US Department of Commerce will now review apps with ties to foreign adversaries that may pose a security risk to American data privacy or national security.

Meanwhile, data released on Wednesday said the Chinese consumer price index (CPI) for May contracted 0.2% and grew 1.3% , missing forecasts. However, the producer price index (PPI) exceeded expectations, growing 9% year on year.

Japan’s was up 0.45%, with the data in April to be...read more...