Asia Pacific Markets Trade Mixed as China’s Inflation Move Slower than Expected

On Wednesday morning (12 June, 9:19 AM, GMT+7, Bangkok time), indices in Asia Pacific traded mixed as investors digested May inflation data from China, reported at 0.3% and missing expectations of 0.4% polled by Reuters. Meanwhile, investors also awaited the announcement of the US Fed’s rate decision and inflation data from the country.


Japan’s NIKKEI declined by 0.78% to 38,831.09. Australia’s ASX 200 slid by 0.62% to 7,707.3, while South Korea’s KOSPI rose by 0.31% to 2,713.78.

As for stocks in China, Shanghai’s SSEC climbed by 0.08% to 3,030.4. Shenzhen’s SZI gained 0.3% to 9,290, while Hong Kong’s HSI slumped by 1.29% to 17,942.52.


Meanwhile, the US stock markets edged up on Tuesday as NASDAQ rose by 0.88% to 17,343.55. S&P 500 climbed by 0.27% to 5,375.32, while the Dow Jones Industrial Average (DJIA) dropped by 0.31% to 38,747.42. VIX edged up by 0.86% to 12.85.


As for commodities, oil prices settled higher on Tuesday as the Energy Information Administration (EIA) raised the 2024 global oil demand forecast to 1.10 million barrels per day, while OPEC remained a strong growth projection from travel and tourism in 2H24. Brent futures increased 29 cents or 0.4% to $81.92 a barrel, and the West Texas Intermediate (WTI) grew 16 cents or 0.2% to $77.90.

This morning, Brent futures grew 30 cents or 0.37% to $82.22 a barrel, and the WTI surged 40 cents or 0.51% to $78.3 per barrel.

Meanwhile, gold futures increased by 0.11% to $2,329.1 per Troy ounce.