Asian shares remained in the mixed session on Thursday as investors weighed signs of reducing inflationary pressure in the United States after data showed consumer prices climbed at a slower-than-expected rate in April.
As of 9.36 A.M. Bangkok time, the Nikkei 225 in Japan traded down 0.19%, the S&P/ASX 200 in AUstralia sank 0.23%.
South Korea’s Kospi, meanwhile, rose 0.43%.
In mainland China, the Shanghai Composite dropped 0.13%. Hong Kong’s Hang Seng index remained flat.
Overnight in the U.S., investors flocked to technology companies, lifting the Nasdaq Composite by 1.04%, while the S&P 500 gained 0.45% on the back of a milder-than-expected inflation report. The Dow Jones Industrial Average lost by 0.09%.
The U.S. Consumer Price Index (CPI) released by the Labor Department on Wednesday showed a 4.9% year-over-year gain in April, lower than the 5% increase that economists had predicted. This led to growing optimism that the Federal Reserve would soon stop rising interest rates. Month-over-month CPI in April rose 0.4% after gaining 0.1% in March.
Investors in Asia will be keeping an eye on China’s inflation print for April, which came in at 0.1% versus the 0.4% predicted in a Reuters poll.
