On Friday, Asian stocks were mostly higher after the US consumer price index indicated that inflation eased in December, bolstering investors’ hopes that the Federal Reserve can resume slower interest rate hikes.
As of 9.26 AM (Thai time), Australia’s S&P/ASX 200 was up 0.76%. The Kospi in South Korea rose 0.99%.
Mainland China’s Shanghai Composite inched up 0.35%, while Hong Kong’s Hang Seng index traded flat.
Japan’s Nikkei 225 fell 1.20%.
Later in the day, China will reveal its December trade data.
Following the latest U.S. consumer price index reading, major stock indices in the United States closed higher overnight. The index decreased 0.1% in December, the worst monthly decline since April 2020.
US government data released on Thursday indicated that consumer inflation has fallen to its lowest level in more than a year in December, suggesting that the worst of the soaring price rises may be over.
The Federal Reserve raised its benchmark lending rate at a pace not seen since the 1980s in an effort to calm the world’s largest economy as American households grappled with decades-high inflation in the past year.
Along with the Fed’s strong campaign, inflation has declined for the sixth straight month, fueling optimism for a reprieve from steadily rising interest rates.
