Data shows U.S. consumer inflation surged in October
SINGAPORE — Asia-Pacific stocks were mixed in Thursday trade after data released overnight showed U.S. consumer inflation spiked in October
As the regional’s largest markets, the Australian stock market suffered the most. S&P/ASX 200 fell 1.18%.
According to seasonally adjusted figures from Australia’s Bureau of Statistics, employment in Australia dropped unexpectedly by 46 300 in October. Reuters reports that the figure was much lower than analyst predictions of a 50,000 gain. In a Reuters poll, 5.2% of the unemployed rose in comparison to 4.8%.
Stocks of mainland China were more than ever, thanks to the Shanghai compositeThe increase in the Shenzhen componentGained 0.323% Hong Kong: Hang Seng indexThe drop was 0.3%
The Nikkei 225Japan has recovered from its earlier losses and rose 0.58%. The Topix index grew 0.3%. South Korea KospiReduced by 0.69%
MSCI’s Asia-Pacific share index outside Japan was 0.7% smaller.
Consumer inflation in America has increased
Overnight data showed that the U.S. consumer prices index saw its largest increase in 30 years in October.
Major indexes on Wall Street fell following the inflation data release, with the Dow Jones Industrial Average dropping 240.04 points to 36,079.94 while the S&P 500 shed 0.82% to 4,646.71. Nasdaq Composite was also affected by the inflation data release. It dropped 1.66%, to 15,622.71.
U.S. Treasury yields rose in the wake of consumer price data releases. The benchmark yield 10-year Treasury noteLast time, it was 1.5699%. Prices are inversely related to yields.
Oil and Currencies
The U.S. dollar indexThe indices that track the greenback in relation to a basket made up of its peers were at 94.913, after having seen levels below 94 earlier.
The Japanese yenThe dollar traded at 114.06 dollars, lower than the levels of 113 yesterday. The Australian dollar$0.7327 was the lowest level, but still lower than $0.74 as seen earlier this week.
The morning Asia trading hour saw oil prices rise, with benchmarks internationally. Brent crude futuresUp to 0.5% to $83.06 Per Barrel U.S. crude futuresIncreased 0.5% to $81.75 per barrel