On Wednesday morning (10 September, 9:10 AM, GMT+7, Bangkok time), indices in Asia Pacific increased across the region as investors digested China’s inflation data for August.
China’s consumer price index decreased by 0.4% in August compared to the same period last year, a sharper drop than the 0.2% decline predicted by economists in a Reuters survey. Monthly data showed that the index was flat, going against expectations for a modest improvement.
Meanwhile, the producer price index contracted by 2.9% year-on-year, matching estimates in a Reuters poll. These figures highlight the persistence of weak domestic demand and continued deflation at the factory level, sparking further calls for Beijing to introduce stronger support measures as the country also faces sluggish export growth.
Market participants are also anticipating key economic indicators from the United States, with the producer price index set for release on Wednesday stateside, followed by the consumer price index on Thursday. These upcoming reports are expected to provide further clarity on inflation trends and their potential influence on the broader economic outlook.
Japan’s NIKKEI surged by 0.29% to 43,586.01. South Korea’s KOSPI soared by 1.4% to 3,305.74, and Australia’s ASX 200 climbed by 0.01% to 8,804.5.
As for stocks in China, Shanghai’s SSEC rose by 0.38% to 3,821.68. Hong Kong’s HSI grew by 0.89% to 26,168.71, and Shenzhen’s SZI advanced by 0.67% to 12,594.3.
The U.S. stock markets edged up on Tuesday as the Dow Jones Industrial Average (DJIA) expanded by 0.43% to 45,711.34. NASDAQ gained 0.37% to 21,879.48, and S&P 500 escalated by 0.27% to 6,512.61. VIX dropped by 0.46% to 15.04.
As for commodities, oil prices settled higher on Tuesday following news that the Israeli military launched a strike against Hamas leaders in Doha, Qatar, intensifying tensions in the Middle East. Brent crude rose by 37 cents, or 0.6%, to close at $66.39 per barrel, while the U.S. West Texas Intermediate crude gained 37 cents, or 0.6%, and ended the session at $62.63 per barrel.
This morning, Brent futures surged 48 cents or 0.72% to $66.87 a barrel, and the West Texas Intermediate (WTI) increased 50 cents or 0.8% to $63.13 per barrel.
Meanwhile, gold futures fell 0.35% to $3,669.4 per Troy ounce.
