Major stock markets in Asia traded in a mixed session on Wednesday as investors look toward the U.S. inflation data for June.
As of 9:18 BKK Time on July 13, 2022, Nikkei rose 0.32%, SSEC slipped 0.08%, Hang Seng Index increased 0.65%, ASX 200 fell 0.15%, IDX Composite dipped 0.059%.
Thailand’s SET Index is closed for holiday.
Investors were trading cautiously while looking forward to the U.S. inflation data, which could signal the direction of the Federal Reserve in raising interest rates to combat inflation that is expected to be at a higher level.
The inflation data for June is scheduled to be released later today.
Headline inflation in May 2022 was at 8.6% and the price in June is expected to rise even higher to 8.8%. According to Reuters poll, the U.S. inflation is forecast to slow down to 7.5% in 3Q22, 6.2% in 4Q22, 4.6% in 1Q23 and to finally draw near the Federal Reserve’s target at 3.5% in 2Q23.
Earlier today, the Bank of Korea raised rates by 50 basis points. Meanwhile, the Reserve Bank of New Zealand is scheduled to announce its interest rate decision as well.