Asian Markets Surge as U.S. Inflation Eases
Asian sharemarkets soared to record highs, driven by tech stocks, amid optimism about U.S. inflation data and potential rate cuts. Meanwhile, European stocks remained steady, oil prices dipped, and U.S. producer prices spurred market expectations for upcoming Federal Reserve interest rate cuts, leading to a calmer investment environment.
Asian sharemarkets saw notable gains on Thursday, breaking records largely due to a rally in technology stocks. Investor sentiment was bolstered by the expectation that benign U.S. inflation figures would allow for a Federal Reserve rate cut in the coming week, with further cuts anticipated by year-end.
In a contrasting scene, European stocks opened with caution as EUROSTOXX 50 futures remained steady, bracing themselves for the European Central Bank's impending rate decision. The ECB is expected to maintain current rates, though attention is focused on potential policy easing signals.
The oil market experienced volatility, with prices dipping after initial gains, while significant movements were observed in currency and bond markets. U.S. Treasury yields showcased slight fluctuations as market players absorbed news on producer prices and anticipated the consumer price index update.
(With inputs from agencies.)
Google News