Asia-Pacific Markets Set To Trade Mixed Ahead Of U.S. Inflation Data – CNBC

A man looks at an electronic quotation board displaying stock prices on the Tokyo Stock Exchange in Tokyo on August 2, 2022.

Kazuhiro Nogi | AFP | Getty Images

Shares in the Asia-Pacific were mixed on Thursday as investors await inflation data from the U.S. due later stateside.

In Australia, the S&P/ASX 200 was 0.3% higher.

The Nikkei 225 in Japan was fractionally lower and the Topix was down 0.28%. Japan’s yen strengthened in Asia’s morning after touching 146.98 per dollar. South Korea’s Kospi shed 0.36% and the Kosdaq lost 0.92%.

MSCI’s broadest index of Asia-Pacific shares outside Japan was just above the flatline. Thailand’s market is closed for a holiday Thursday.

Stocks close lower after choppy session

All three major averages closed lower Wednesday after whipsawing between gains and losses throughout the day.

The S&P 500 shed 0.33%, falling to 3,577.03, its lowest close since November 2020 and its sixth consecutive daily loss.

The Dow Jones Industrial Average shed 28.34 points, or 0.10%, to close at 29,210.85. The Nasdaq Composite fell 0.09% to close at 10,417.10.

—Carmen Reinicke

Fed minutes show central bank sees more rate increases, higher rates for longer

The Federal Reserve’s September meeting minutes, released Wednesday, show that the central bank expects to continue increasing interest rates and hold them higher until inflation shows signs of abating.

The minutes reflect policymaker’s discussions ahead of the last 0.75 percentage point increase, the third consecutive hike of that size delivered this year.

The central bank has been surprised with the persistent pace of inflation, but remain optimistic that rate hikes will help bring price increases back in check.

—Carmen Reinicke, Jeff Cox

from
https://dallascountynewsonline.com/asia-pacific-markets-set-to-trade-mixed-ahead-of-u-s-inflation-data-cnbc/