Asia Pacific Markets Fall as Australia Reports Faster-Than-Expected Inflation Figures

On Wednesday morning (29 May, 9:21 AM, GMT+7, Bangkok time), most indices in Asia Pacific decreased as investors digested inflation data from Australia. The country’s CPI in April rose 3.6% YoY, beating a 3.4% gain forecast polled by Reuters and higher than the 3.5% seen in March.


Japan’s NIKKEI slid by 0.31% to 38,734.91. South Korea’s KOSPI dropped by 0.86% to 2,699.35, and Australia’s ASX 200 declined by 0.98% to 7,690.5.

As for stocks in China, Shanghai’s SSEC gained 0.41% to 3,122.47. Shenzhen’s SZI increased by 0.6% to 9,447.03, while Hong Kong’s HSI slumped by 1.18% to 18,598.63.


Meanwhile, the US stock markets edged up on Tuesday as NASDAQ surged by 0.59% to 17,019.88. S&P 500 climbed by 0.02% to 5,306.04, while the Dow Jones Industrial Average (DJIA) decreased by 0.55% to 38,852.86. VIX jumped by 4.53% to 12.92.


As for commodities, oil prices settled higher on Tuesday ahead of the upcoming OPEC+ meeting, with markets expecting the group to extend production cuts. Brent futures rose $1.12 or 1.35% to $84.22 a barrel, and the West Texas Intermediate (WTI) grew $2.11 or 2.71% to $79.83.

This morning, Brent futures edged up 20 cents or 0.24% to $84.42 a barrel, and the WTI climbed 30 cents or 0.38% to $80.13 per barrel.

Meanwhile, gold futures grew by 0.08% to $2,358.5 per Troy ounce.