On Wednesday morning (10 July, 9:27 AM, GMT+7, Bangkok time), indices in Asia Pacific trade mixed as investors digested inflation data from China and Japan.
China’s CPI saw a modest 0.2% increase in June, slightly lower than the 0.4% forecasted by economists polled by Reuters and a decline from May’s 0.3%. Meanwhile, the country’s PPI dropped 0.8% year-on-year, meeting expectations and showing a milder decrease compared to May’s 1.4% drop.
Japan’s corporate goods price index surged to 2.9% in June compared to the previous year, meeting expectations and showing a faster growth rate compared to the revised 2.6% in May.
South Korea’s KOSPI slid by 0.12% to 2,863.83. Australia’s ASX 200 declined by 0.42% to 7,796.9, while Japan’s NIKKEI rose by 0.27% to 41,691.79.
As for stocks in China, Hong Kong’s HSI grew by 0.79% to 17,661.75. Shenzhen’s SZI increased by 0.49% to 8,748.83, while Shanghai’s SSEC fell by 0.31% to 2,950.33.
Meanwhile, the US stock markets edged up on Tuesday as NASDAQ surged by 0.14% to 18,429.29. S&P 500 climbed by 0.07% to 5,576.98, while the Dow Jones Industrial Average (DJIA) dipped by 0.13% to 39,291.97. VIX jumped by 1.13% to 12.51.
As for commodities, oil prices settled lower on Tuesday as traders eased concerns on the prolonged supply disruptions from Hurricane Beryl, in which a U.S. oil-producing hub in Texas was less damaged than initially feared. Brent futures dropped $1.09 or 1.3% to $84.66 a barrel, and the West Texas Intermediate (WTI) decreased 92 cents or 1.1% to $81.41 per barrel.
This morning, Brent futures lost 2 cents or 0.02% to $84.64 a barrel, while the WTI gained 5 cents or 0.06% to $81.46 per barrel.
Meanwhile, gold futures increased by 0.27% to $2,374.2 per Troy ounce.
