On Friday morning (12 July, 9:30 AM, GMT+7, Bangkok time), indices in Asia Pacific traded mixed as easing US inflation boosted hopes among traders for the US Federal Reserve to cut rates. Meanwhile, there were speculations that Japan’s government might intervene in the yen after the currency strengthened against the dollar.
The consumer price index, a broad measure of costs for goods and services across the U.S. economy, declined 0.1% from May, putting the 12-month rate at 3%, around its lowest level in more than three years, the Labor Department reported Thursday. The all-items index rate fell from 3.3% in May, when it was flat on a monthly basis.
Japan’s NIKKEI slumped by 1.99% to 41,382.97. South Korea’s KOSPI dropped by 1.36% to 2,852.13, while Australia’s ASX 200 increased by 0.77% to 7,950.
As for stocks in China, Shanghai’s SSEC climbed by 0.07% to 2,972.45. Hong Kong’s HSI jumped by 1.97% to 18,183.19, while Shenzhen’s SZI declined by 0.3% to 8,843.38.
Meanwhile, the US stock markets were mixed on Thursday as NASDAQ decreased by 1.95% to 18,283.41. S&P 500 contracted by 0.88% to 5,584.54, while the Dow Jones Industrial Average (DJIA) edged up by 0.08% to 39,753.75. VIX gained 0.54% to 12.92.
As for commodities, oil prices settled higher on Thursday following a decline in inflation and rising hopes for rate cuts. Brent futures grew 32 cents or 0.38% to $85.40 a barrel, and the West Texas Intermediate (WTI) surged 52 cents or 0.63% to $82.62 per barrel.
This morning, Brent futures rose 30 cents or 0.35% to $85.7 a barrel, and the WTI increased 43 cents or 0.52% to $83.05 per barrel.
Meanwhile, gold futures slid by 0.37% to $2,413 per Troy ounce.
