Asia-Pacific stocks were largely higher in Thursday trade as investors reacted to the release of China’s inflation data for September.
Mainland Chinese stocks closed mildly lower. The Shanghai composite declined 0.1% to 3,558.28 while the Shenzhen component dipped fractionally to around 14,341.38.
Singapore’s central bank tightens monetary policy
Singapore’s Straits Times index gained 0.24% in the afternoon, recovering from earlier losses after the country’s central bank unexpectedly tightened monetary policy on Thursday.
Official advance estimates also showed Thursday that Singapore’s economy grew 6.5% year-on-year in the third quarter of 2021. That was largely in line with expectations from economists in a Reuters poll, who had expected a 6.6% year-on-year expansion for the third quarter.
Elsewhere, the Nikkei 225 in Japan advanced 1.46% to close at 28,550.93 while the Topix index edged 0.67% higher to end the trading day at 1,986.97. South Korea’s Kospi closed 1.5% higher at 2,988.64.
In Australia, the S&P/ASX 200 climbed 0.54% on the day to 7,311.70.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.52% higher.
Markets in Hong Kong were closed on Thursday for a holiday.
· Taiwan's TSMC posts 13.8% rise in Q3 profit on global chip demand surge
· Europe’s stocks climb as markets digest U.S. inflation data, earnings
European stocks opened higher on Thursday with investors around the world reflecting on the latest inflation data and earnings out of the U.S.
The pan-European Stoxx 600 added 0.7% in early trade, with basic resources jumping 2.1% to lead gains as all sectors and major bourses entered positive territory.
Global markets are digesting the latest U.S. inflation data which rose higher than expected in September, increasing pressure on the U.S. Federal Reserve to raise rates sooner rather than later.
Also in focus is the third-quarter earnings season which kicked off on Wednesday with JPMorgan Chase; the bank reported that quarterly profit topped expectations following a boost from better-than-expected loan losses. Bank of America, Citigroup, Morgan Stanley and Wells Fargo are all scheduled to report earnings before the bell Thursday.
Reference: Reuters, CNBC
Thai
Eng