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Asian markets trades lower after hotter than expected U.S. CPI

February 15, 2023
in Markets
Reading Time: 2 mins read
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Japan -0.37%. Japan data: December Tertiary Industry Index -0.4% m/m (expected +0.1%).

China -0.48%. China’s central bank has kept its interest rates unchanged at 2.75% on 499 billion yuan of one-year medium-term lending facility loans.

Hong Kong -1.45%.

Australia -1.06%. Shares of Australian banks fell as Reserve Bank of Australia governor Philip Lowe highlighted inflation remains at elevated levels, speaking at the Senate Economics Legislation Committee.

India +0.05%.

Overnight on Wall Street, major stock indexes, the NASDAQ moved higher, but the S&P and Dow Industrial Average were lower on the day. The Dow Industrial Average -156.66 points or -0.46% at 34089.28; S&P index -1.16 points or -0.03% at 4136.14; and NASDAQ index up 68.37 points or 0.57% at 11960.18.

The U.S. consumer price index, which measures a broad basket of common goods and services, rose 0.5% in January, which translated to an annual gain of 6.4%.Economists surveyed by Dow Jones had been looking for respective increases of 0.4% and 6.2%.

South Korea’s unemployment inched lower to 2.9% in the month of January, government data showed, after marking 3.3% in December.

Gold prices stood at $1,856.30 during Asia’s afternoon trading session.

US futures lower. Dow Jones -0.44%; S&P 500 -0.57%; Nasdaq -0.78%.

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Tags: AsianCPIexpectedhottermarketsTradesU.S
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