Nikkei, yen, Hang Seng: Stock markets are rising - US inflation data ease interest rate concerns
The prospect of an interest rate pause by the US Federal Reserve is creating a buying mood on the Asian stock markets. Prices are rising particularly sharply in Seoul and Tokyo.
The hope of an interest rate pause in the US drove Asian stock markets on Thursday. The Japanese Nikkei index gained 1.9 percent. The broad MSCI index for Asia-Pacific shares outside Japan rose by just under one percent. The South Korean Kospi added 4.4 percent. Previously, inflation data from the US had dampened expectations that the US Federal Reserve could raise interest rates further.
US consumer prices rose by 0.1 percent in July, within expectations. The probability of an interest rate hike next month is now estimated at 40 percent on the money markets, after 54 percent a week ago.
Currencies
On the Far Eastern foreign exchange market, the dollar gained slightly to 159.43 yen and rose slightly to 6.7441 yuan. However, speculation about a possible interest rate hike by the Japanese central bank as early as next month curbed the dollar. Against the Swiss currency, it moved up slightly to 0.8137 francs. At the same time, the euro remained almost unchanged at 1.1521 dollars and rose slightly to 0.9377 francs.
More: US companies deliver, expectations rise - how long will the rally last?
Translated by urgent.news. Machine-written — may contain errors; check the original before relying on it.
