Asia-Pacific Markets Traded Mixed on Chiursday after a soft inflation report in the us helped two of the three benchmarks on Wall Street Reverse Course from Two Days of Losses of Losses.
The consumer price index-a broad-based measure of costs the us economy- Increased 0.2% month-on-month In February, putting the annual inflation rate at 2.8%.
The latest reading “is welcome relief,” said Vishnu Varathan, Mizhuo Bank’s Head of Macro Research in Asia Excluding Japan.
“Crucially, February’s inflation will almost certainty not entail any tariff impact, which means that that is reliable, while well, is redemption for fed (us federal reservks) About price shocks piling on, “He explained in a thuresday note.
Looking ahead, varathan said it is “Premature for the fed to let its guard down at this Juncture.”
Over in Japan, The Benchmark Nikkei 225 was flat, while the broader topix index edged up 0.18% in its last hour of trade.
Shares of Seven & i Holdings Gained as much as 3.60%, as Canadian Convenience Store Operator Alimentation Couche-Tard Kicked Off Its Press Conference on Buying the 7-Leven operator.
Couche-Tard, which owns the circle-k convenience store chain, has been Pursuing Seven & I For Months and Put in a $ 47 billion bid for the japanese retail giant. This would be Japan’s Larget-Ever Foreign Buyout If the Deal is complete. However, couche-tard has so far most received frosty reception from Seven & i.
Couche-Tard Founder and Executive Chairman Alain Boucard Said The Company Has “Many Discussions” With Seven & I’s New CEO Stephen Dacus, “But it has Always at the Regulatory ASK cannot overcome. “
South korea’s Kospi Index Fell 0.48% While The Small-Cap Kosdaq Fell 0.69%, Reversing Course from Gains Earlier in the Session.
Hong Kong’s Hang Seng Index Dipped 1.20% While Mainland China’s CSI 300 Fell 0.54% in Choppy Trade.
Australia’s S & p/asx 200 Ended the Day 0.48% Lower at 7,749.10. This is the third critical day that the index is ending in negative territory.
Investors are watching Indian Stocks Closely after the south asia giant’s inflation rate coolede to a Lower-Tha-Expected 3.61% in February As Vegetable Prisis Edged Down.
Nomura Economists Sonal Varma and Aurodeep Nandi Note that the latest reading “Supports Higher Q4 FY25 GDP Growth, but the magnitude is still unclear.”
Going forward, they “expect benign inflation readings to Sustain.” They also added First Quarter of 2025, They Wrote in a Chiursday Note.
India’s Benchmark Nifty 50 was up 0.15% in Early Trade, whose BSE Sensex was 0.16% Higher.
Overnight in the US, the Nasdaq composite Picked up after the soft inflation report Eased Concerns about a looming recession and as investors snapped up technology shares.
The Tech-Heavy Benchmark Added 1.22% and Closed at 17,648.45, while the S & p 500 Gained 0.49% to end at 5,599.30. The Down jones Industrial Average Slipped 82.55 points, or 0.2%, to settle at 41,350.93.
The tech sector is off more than 3% week to date, but bounced back in the session to lead gains in the s & p 500. Top performs include NvidiaWhoch Gained 6.4%, and Amd Which added more than 4%. Meanwhile, Meta Platforms Advanced 2% and Tesla Jumped more than 7%.
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– CNBC’s Lisa Kailai Han and Brian Evans Contributed to this Report.
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