An investor watching share prices at the securities trading floor of Asia Commercial Bank in Hanoi, Vietnam.
Hoang Dinh Nam | AFP | Getty Images
Asia-Pacific stocks traded mixed Thursday as investors awaited U.S. inflation data for clues on the Federal Reserve’s interest rate path.
The U.S. personal consumption expenditures price index — the Fed’s preferred inflation gauge — is due later in the day.
Hong Kong’s Hang Seng index added 0.5% and looked set to end the day with gains, while China’s CSI 300 closed 1.9% higher at 3,516.08 a day before its manufacturing purchasing managers’ index reading.
Hong Kong on Wednesday said it would do away with property curbs in an effort to buoy its real estate sector and forecast economic growth in a range of 2.5% to 3.5% for 2024.
Separately, Walt Disney and Indian conglomerate Reliance will merge their Indian businesses. The combined entity was valued at roughly $8.5 billion on a post-money basis, excluding synergies.
Japan’s Nikkei 225 closed 0.1% lower at 39,166.19, while the Topix was flat at 2,675.73. The Nikkei 225 had hit a record high earlier in the week.
South Korea’s Kospi was down 0.4%, while the small cap Kosdaq turned positive to trade 0.14% higher.
In Australia, the S&P/ASX 200 rose 0.5% to close at 7,698.70.
U.S. stock markets slid Wednesday as investors awaited the Fed’s preferred inflation report.
The S&P 500 fell 0.17%, while the Nasdaq Composite fell 0.55%. The Dow Jones Industrial Average shed 23.39 points, or 0.06% to clock a third straight day of losses.
— CNBC’s Hakyung Kim and Brian Evans contributed to this report.
Source Agencies
