On Wednesday morning (11 February, 9:36 AM, GMT+7, Bangkok time), most major indices in the Asia Pacific moved higher, maintaining upward momentum even as disappointing economic indicators in the United States pressured Wall Street.
U.S. consumer spending data for December revealed flat growth, failing to match the 0.4% expansion anticipated by economists surveyed by Dow Jones. This lackluster result has raised doubts about the resilience of American consumers and prompted investors to watch upcoming jobs and inflation reports for further signals on monetary policy direction, especially as technology sector volatility adds uncertainty following concerns over high artificial-intelligence investment.
Traders are also monitoring new economic releases from China. Inflation data published by the National Bureau of Statistics showed China’s consumer price index rising 0.2% year-over-year in January, coming in below a Reuters poll consensus of 0.4%. The subdued inflation figure has highlighted persistent deflationary pressures in the country, amid limited economic stimulus measures.
Notably, Japanese markets are closed for the day due to a public holiday.
South Korea’s KOSPI surged by 0.73% to 5,340.64, and Australia’s ASX 200 rose by 1.40% to 8,991.60.
As for stocks in China, Shanghai’s SSEC climbed by 0.07% to 4,131.07. Hong Kong’s HSI grew by 0.13% to 27,218.12, while Shenzhen’s SZI slid by 0.04% to 14,205.02.
The U.S. stock markets were mixed on Tuesday as NASDAQ decreased by 0.59% to 23,102.47. S&P 500 shrank by 0.33% to 6,941.81, while the Dow Jones Industrial Average (DJIA) gained 0.10% to 50,188.14. VIX advanced by 2.48% to 17.79.
As for commodities, oil prices settled lower on Tuesday as traders remained cautious ahead of updates regarding U.S.-Iran diplomatic developments, negotiations related to the conflict in Ukraine, and the releases of key U.S. economic and inventory data. Brent crude futures ended the session down 24 cents at $68.80 per barrel. West Texas Intermediate crude declined by 40 cents, finishing at $63.96 per barrel.
This morning, Brent crude futures increased 47 cents, or 0.68%, to $69.27 per barrel, and the WTI expanded 49 cents, or 0.77%, to $64.45 per barrel.
Meanwhile, gold futures escalated by 0.69% to $5,065.90 per Troy ounce.
