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Global market update: APAC shares lift ahead of key US CPI

Published Nov 14, 2023 11:38
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Investing.com - Asian Pacific shares opened on a positive note on Tuesday, after a day of mixed results on Wall Street, as investors eagerly anticipate US inflation data.

By 11:40 am AEDT (12:40 am GMT) The S&P/ASX 200 saw a rise of 0.8%, Japan's Nikkei 225 increased by 0.5%, and South Korea's KOSPI 200 grew by 1.5%.

In the US, minor fluctuations were recorded with the Dow Jones Industrial Average gaining 54 points to reach 34337, due in part to a 4% increase in Boeing (NYSE:BA) shares following Emirates Airline's commitment to purchase 95 aircraft. Conversely, the S&P 500 and NASDAQ Composite fell by 3 and 30 points respectively, settling at 4411 and 13767.

The US Dollar Index and United States 10-Year yield remained steady as investors await upcoming CPI data. Economists predict the annual core Consumer Price Index (CPI) to remain at 4.1%, well above the Federal Reserve's target. Tyson Foods Inc (NYSE:TSN) shares dropped by 2.8% after the company reported a loss and projected flat sales for the upcoming fiscal year.

In the commodities markets, Brent crude oil increased by 1.7% to US$82.79 a barrel, while gold rose by 0.3% to US$1,946.55. The Australian dollar appreciated to 63.77 US cents, up from the previous close of 63.58. The Wall Street Journal Dollar Index, which gauges the US dollar against 16 other currencies, was down at 100.14.

In China, shares ended higher, driven by software and consumer services stocks. The Shanghai Composite Index closed 0.25% higher, while the Shenzhen Composite Index and the Chinext Price Index gained 0.6% and 0.2% respectively. In Hong Kong, stocks broke a four-day losing streak, rallying in the afternoon due to tech buying.

Japan's Nikkei Stock Average closed 0.1% higher, with gains in food and financial stocks offsetting losses from disappointing earnings. India's Sensex fell 0.5% due to a cautious mood ahead of the country's October inflation report.

European stocks advanced as investors await the release of the US inflation report on Tuesday. The Stoxx Europe 600 and DAX rose by 0.6% and 0.5% respectively, while the CAC 40 climbed by 0.4%. The FTSE 100 index closed Monday up 0.9% in line with European peers, bolstered by financial and oil-exposed stocks.

Global market update: APAC shares lift ahead of key US CPI
 

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