Pedestrians stroll previous Japanese nationwide flags adorning a road within the well-liked vacationer space of Ginza as folks do final minute purchasing earlier than 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 information from the U.S. that despatched two key Wall Street benchmarks greater in a single day.
The producer price index, which measures wholesale inflation, climbed simply 0.2% in December, in keeping with the Bureau of Labor Statistics. Economists polled by Dow Jones had estimated a 0.4% rise. Core PPI, which excludes meals and vitality, got here in flat.
Investors in Asia additionally assessed the Reuters Tankan survey from Japan for January, which mirrors the Bank of Japan’s quarterly Tankan survey.
Business sentiment amongst massive producers rebounded, with the Tankan studying coming in at plus 2, after dipping into unfavorable territory for the primary time in 10 months in December with a studying of minus 1 in December.
Optimism amongst non-manufacturers edged as much as plus 31, from plus 30 in December.
The benchmark Nikkei 225 was up, with 0.75% whereas the broad-based Topix gained 0.86%.
Meanwhile, South Korea’s Kospi was up 0.95% whereas the small-cap Kosdaq Index added 0.53%. South Korean investigators are trying 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 in comparison with the HSI’s shut of 19,219.78.
Australia’s S&P/ASX 200 has gained 0.29%.
Overnight within the U.S., the Dow Jones Industrial Average climbed 0.52% whereas the S&P 500 superior 0.11% after the PPI report to five,842.91. In distinction, the tech-heavy Nasdaq Composite slipped 0.23%.
— CNBC’s Hakyung Kim and Brian Evans contributed to this report.
