Asia Pacific Market Mixed after US Hotter Inflation

This Thursday morning (14 Sep), Asia Pacific major indices were mixed after the US inflation indicator or CPI of August announced at 3.7% YoY, which was hotter than the expected 3.6% and the previous month 3.2%.


Japan’s NIKKEI is leading with 1% gain over 33,000 despite the published minus 13% core machinery orders and $850 billion net capital outflow. Taiwan’s TWII is rising by 1% over 16,700. South Korea’s KOSPI is also gaining by 0.8% to 2,550. On the other hand, Shenzhen’s SZI is dropping by 0.7% under 10,190. New Zealand’s NZX 50 is also dropping by 0.4% to 11,300, while other major indices are having lesser losses and gains.


Meanwhile, US Futures have been rising since last night despite the hotter inflation. S&P 500 is rising almost 4,530, while NASDAQ is moving back to 15,600 again after some big tech stock gain by 1% to 2% last night. The US Dollar (DXY) has been weakening dropping down below 104.3, strengthening other currencies. However, commodities like WTI crude oil still hang around $88.8 and Brent also at $92 per barrel. The natural gas price is back at $2.7 per 10,000 MMBTU again since last month, while gold is slightly dropping to $1,930 per Troy ounce.