On Thursday morning (13 February, 9:18 AM, GMT+7, Bangkok time), major indices in Asia Pacific exhibited an upward trend, diverging from Wall Street which experienced a decline following a robust U.S. inflation report.
In January, the Labor Department’s Bureau of Labor Statistics reported a 0.5% month-over-month increase in the U.S. consumer price index (CPI), marking the most substantial surge since August 2023, following a 0.4% rise in December. Year-over-year, the figure climbed 3.0%, showing the largest escalation since June 2024, after a 2.9% rise in December. This growth surpassed the projections of economists, who predicted a 0.3% monthly advancement and a 2.9% increase annually.
The data indicated a reduced possibility of the Federal Reserve reintroducing rate cuts in the near future, heightening fears that the central bank’s next action could potentially be a rate hike.
Japan’s NIKKEI surged by 1.15% to 39,412.99. South Korea’s KOSPI rose by 0.93% to 2,572.04, and Australia’s ASX 200 grew by 0.35% to 8,564.8.
As for stocks in China, Shanghai’s SSEC climbed by 0.11% to 3,350.21. Hong Kong’s HSI expanded by 1.23% to 22,126.98, and Shenzhen’s SZI added 0.11% to 10,720.47.
Meanwhile, the US stock markets edged down on Wednesday as the Dow Jones Industrial Average (DJIA) dropped by 0.5% to 44,368.56. S&P 500 decreased by 0.27% to 6,051.97, while NASDAQ climbed by 0.03% to 19,649.95. VIX contracted by 0.81% to 15.89.
As for commodities, oil prices settled lower on Wednesday, influenced by reports from industry sources indicating an increase in U.S. crude inventories. Additionally, comments from Federal Reserve Chair Jerome Powell, hinting at a reduced pace of rate cuts in the year, further impacted the market sentiment. Brent futures for April lost $1.82 or 2.36% to $75.18 a barrel, and the West Texas Intermediate (WTI) declined $1.95 or 2.66% to $71.37 per barrel.
This morning, Brent futures fell 59 cents or 0.78% to $74.59 a barrel, and the WTI shrank 57 cents or 0.8% to $70.8 per barrel.
Meanwhile, gold futures rose 0.17% to $2,933.7 per Troy ounce.
