Asia-Pacific stocks, US CPI, inflation

Pedestrians cross a road in front of the Tokyo Stock Exchange (TSE), run by Japan Exchange Group Inc. (JPX), in Tokyo, Japan, on Thursday, October 29, 2020.

Kiyoshi Ota | Bloomberg via Getty Images

Asia-Pacific stocks opened in positive territory as investors await the much-anticipated Federal Reserve meeting and US CPI data.

of Hong Kong Hang Seng Index rose 0.67% after CEO John Lee announced further easing of Covid restrictions.

of Australia S&P/ASX 200 closed up 0.31% to 7,203.3. The Nikkei 225 in Japan added 0.40% to 27,954.85, while the Topix rose 0.43% to 1,965.68.

Korean benchmarks Kospi and Kosdaq fell partially to close at 2,372.4 and 715.16 respectively. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.29 percent.

In mainland China, Component Shenzhen lost 0.174% while Shanghai Composite rose 0.07%.

Hong Kong will release its third-quarter industrial production data, and the Bank of Korea will also release minutes of its November meeting.

Australian business sentiment fell into negative territory for the first time since last December.

Traders are preparing for the release of US Consumer Price Index Report for November and hope for signs of easing inflation. Economists polled by Dow Jones expect growth of 0.3% on a monthly basiswhich would mark a step down from October’s 0.4%

Overnight in the US, the blue-chip Dow gained 528.58 points, or 1.58%, to 34,005.04, marking its first close above 34,000 since Dec. 2. The S&P 500 rose 1.43% to 3,990.56 and the Nasdaq Composite added 1.26% to 11,143.74.

#AsiaPacific #stocks #CPI #inflation

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