Asia-Pacific shares rose as US inflation data remained in focus

SHANGHAI, CHINA – MARCH 01: Skyscrapers stand in the Pudong Lujiazui financial district on March 1, 2022 in Shanghai, China.

Xiao Yang | Visual China Group | Getty Images

Asia-Pacific shares were mostly higher as investors await Thursday’s US consumer price index report. Economists expect inflation to cool in December, which could signal to the Federal Reserve that previous interest rate hikes have had the intended effect.

of Australia S&P/ASX 200 closed 1.18% higher at 7,280.4 after the release of the country’s trade balance in November.

The Nikkei 225 closed unchanged at 26,449.82, while the Topix rose 0.36% to 1,908.18. of South Korea Kospi rose 0.24% to 2,365.1, while the Kosdaq fell 0.15% to 710.82.

of Hong Kong Hang Seng Index fell partially, reversing previous gains. Mainland China Shanghai Composite added 0.051% to close at 3,163.45 and Component Shenzhen was up 0.23% to 11,465.73. China’s consumer price index rose 1.8 percent in December from a year earlier, in line with Reuters expectations.

India’s inflation data for December is also due for release.

Overnight on Wall Street, the major stock indexes closed higher. Economists surveyed by Dow Jones expect the inflation footprint to show that prices cooled a modest 0.1% in December from November.

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