Asia Pacific Markets Rise as Australia Inflation Soften; US Hurricane Incoming

On Wednesday morning (30 Aug), most of Asia Pacific indices were rising after the Reserve Bank of Australia published July’s inflation at 4.9%, which was lower than 5.4% in the previous month, causing 1.3% gain on ASX 200 over 7,300, followed by 1.1% gain on Hong Kong’s HSI over 18,680 and Japan’s NIKKEI got 1% gain, moving the index over 32,540. South Korea’s KOSPI also rose by 0.8% to 2,570 and Taiwan’s TWII increased by 0.7% as well to 16,740, while other indices remain on the green side below 0.6% gain.

Meanwhile, despite the lower consumer confidence, the US market saw some gains, especially NVDA and tech rally, causing the NASDAQ Futures to rise from 15,100 over 15,450 or 2.3% gain, while S&P 500 also rose from 4,450 over 4,500 or 1.1% gain.

At the same time, the brewing of the hurricane Idalia in Gulf of Mexico prompted concerns on Southern US oil production to brace for impact, causing some rises in world oil market, US WTI crude oil swung back to the level of mid August again at $81.5, while UK Brent also swung back over $85.5 as well.