Asia indices rise ahead of US consumer data
Hang Seng gained 1.1%, Shanghai Composite, Kospi and Australia’s S&P/ASX 200 edged up
Wall Street sign board
Bangkok: Asia markets opened higher following a positive close on Wall Street. Investors are eagerly awaiting a crucial US inflation report later in the day, which will likely set the tone for the Federal Reserve’s final meeting of the year on Wednesday.
US futures and oil prices advanced. Tokyo’s Nikkei 225 added 0.5 per cent to 32,959.50. Data released on Tuesday showed the wholesale prices in Japan rose by 0.3 per cent from the previous year in November, which marked the slowest rate of increase in almost three years, suggesting a moderation in inflationary pressure in the economy. Hong Kong’s Hang Seng gained 1.1 per cent to 16,367.00, and the Shanghai Composite edged 0.1 per cent higher, to 2,993.65.
Chinese leaders are holding an annual economic conference expected to wrap up on Tuesday with pledges to spur stable growth. In Seoul, the Kospi was up 0.4 per cent at 2,534.15 points. Australia’s S&P/ASX 200 climbed 0.5 per cent to 7,233.90.
