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​·         Asian equities, FX gain as focus turns to U.S. inflation data

Singapore shares hit two-month highs on Wednesday as most Asian equities logged strong gains, with stocks in India scaling a record high to mark their fifth consecutive session of gains.

 

India's Nifty 50 scales record high

 

Among currencies, South Korea's won and Philippine peso appreciated as the dollar eased from its near one-year highs with markets waiting for U.S. inflation numbers.

 

Investor focus turns to the U.S. September inflation numbers expected later in the global day to gauge the Fed's policy amid mounting inflationary pressures.

 

 

Asian shares were on edge on Wednesday as worries about soaring power prices fuelling inflation weighed on sentiment and drove expectations the United States would taper its emergency bond buying programme, holding the dollar at a one-year high.

 

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.1% in early trading, steadying after falling over 1% a day earlier, in what was its worst daily performance in three weeks.

 

 

·         China stocks rise as unexpectedly strong trade data ease slowdown fears

China stocks ended Wednesday higher, lifted by consumer and technology stocks, as better-than-expected domestic trade data eased slowdown fears fanned by a power crunch and Evergrande’s debt crisis.

The blue-chip CSI300 index rose 1.2%, to 4,940.11 points, while the Shanghai Composite Index gained 0.4% to 3,561.76 points.

 

·         Morgan Stanley upgrades China property to ‘attractive’ despite default fears

 

·         Japanese shares fall as investors await U.S. CPI, retailers jump

Japanese shares fell on Wednesday as investors awaited U.S. consumer price data due later in the day, while department store operator J. Front Retailing led gains in its peers after posting positive earnings amid hopes of economic reopening.

The Nikkei average slipped 0.32% to close at 28,140.28, while the broader Topix lost 0.45% to 1,973.83.

 

·         European markets subdued amid jitters over growth, inflation; THG plunge continues

European stocks were subdued on Wednesday as concerns around global growth and inflation continue to rattle market sentiment.

 

·         Rate hike worries weigh on FTSE 100 after strong GDP results

London’s FTSE 100 index fell on Wednesday as signals of economic growth bolstered bets of a rate hike by the Bank of England before the end of the year, although Britain’s biggest homebuilder Barratt Developments surged on strong results.

The blue-chip FTSE 100 index eased 0.5% at 0710 GMT, with miners Rio Tinto, BHP Group and Anglo-American among the worst performers.

 

·         Stock futures muted ahead of earnings and inflation report

 

·         Cramer says the stock market is ‘incredibly confusing’ right now and investors should be patient​