Shares in major Asian markets surged on Thursday after a better-than-expected inflation report in the United States.
As of 9:32 a.m. Thai time, Australia’s S&P/ASX 200 rose 0.76%.
The Kospi in South Korea was 1.29% higher and Hong Kong’s Hang Seng index gained 1.10%.
Mainland China market’s Shanghai Composite advanced 0.35%.
Japan’s market is closed for a holiday Thursday.
The Consumer Price Index (CPI) in the U.S. slowed down to 8.5% in July, beating economists forecasts of 8.7% after hitting a fresh 40-year high of 9.1% in June.
The annualized CPI is, however, still well above its historical average.
Meanwhile, core CPI which excludes volatile food and energy prices remained at 5.9% on a yearly basis.
Investors are now speculating on the US central bank’s next move on its policy interest rate after a 75 basis point hike previously.
Overnight in the United States, the Dow Jones Industrial Average jumped 535.10 points, or 1.63%, to finish at 33,309.51. This was in response to inflation data that came in lower than expected. The S&P 500 added 2.13 points, closing at 4,210.24, while the Nasdaq Composite climbed 2.89 points, closing at 12,854.80.
