Asia-Pacific stock markets rose as global markets rebounded from volatility caused by inflation concerns.
On Friday, Japan’s Topix Index rose 1.8%, while Hong Kong’s Hang Seng Index rose 1%. China’s Shanghai and Shenzhen 300 Index rose 1.7%, and Australia’s S&P/ASX 200 rose 1%.
Supported by the US inflation data this week, the weakness in Asian markets on Thursday marked a turnaround in the gains. Consumer price It grew at the fastest rate in 13 years in April.
This data exceeded economists’ expectations and pushed Wall Street stocks to the Worst day In the months of Wednesday. But the U.S. stock benchmark index S&P 500, Bounce back It closed up 1.2% the next day.
During the Asian trading session on Friday, the US 10-year Treasury bond yield changed little, at 1.654%, after the US stock market fell 0.04% overnight.
S&P 500 futures rose 0.5%, while London FTSE 100 futures rose 0.7%.
As investors and policy makers pay attention to the global market, the global market has become tense Signs of rising inflation In the context of the global economic recovery caused by the coronavirus pandemic.
This has raised concerns among investors that the US economy may overheat after receiving financial support, and the Fed may be forced to tighten monetary policy.
David Chao, a global market strategist at Invesco, an asset management company, said: “Although interest rates may remain loose in the short term, inflationary pressures may pick up as the US economy continues to return to normal levels.” “The Fed may be forced to respond sooner or later.”
Products with the following characteristics Significant rebound In recent weeks, Friday has weakened. The international oil benchmark Brent crude fell 0.5% to $66.70 per barrel. US crude oil prices fell 0.5% to $63.50 per barrel.
The colony pipeline is an important fuel artery in the United States. Resume operations The report was released on Wednesday after being shut down due to cyberattacks late last week.
Gold is regarded by some investors as a hedge against inflation. Gold fell 0.3% to $1,821.8 per ounce.
Other reports by Daniel Shane in Hong Kong