Shares in the Asia-Pacific mildly roseon Thursday after Wednesday’s negative session. U.S., indexes inched higher overnight and the producer price index showed a decrease in wholesale prices of 0.1% in August amid inflation fears.
The Nikkei 225 in Japan rose 0.16% and the Topix index was 0.15% higher. The Japanese yen
was last trading at 143 against the dollar after a reported “rate check” by the Bank of Japan.
In South Korea, the Kospi added 0.11% and Australia’s S&P/ASX 200
was 0.55% higher.
Mainland China’s Shanghai Composite gained 0.35%, and the Shenzhen Component was fractionally higher. The Hang Seng index
|.N225||Nikkei 225 Index||*NIKKEI||27868.59||49.97||0.18|
|.HSI||Hang Seng Index||*HSI||18952.95||105.85||0.56|
|.AXJO||S&P/ASX 200||*ASX 200||6869.5||40.9||0.6|
|.FTFCNBCA||CNBC 100 ASIA IDX||*CNBC 100||7637.58||31.51||0.41|
In China, the central bank kept its one-year medium-term lending facility (MLF) unchanged at 2.75%, as expected. Australia’s unemployment rate for August came in at 3.5%, slightly higher than July.
Australia adds 33,500 jobs in August
Australia added 33,500 jobs in the month of August, a 0.2% increase from July in seasonally adjusted terms. Net employment declined in July.
The nation’s unemployment rate rose to 3.5%, with the youth unemployment rate at 8.4% for the month.
The market participation rate is at 66.6%, marginally higher than the previous month’s 66.4%.
U.S. 2-year Treasury yields hits 3.8% again
The U.S. 2-year Treasury note briefly rose to 3.8% again after reaching its highest level since November 2007 earlier this week.
Short-term bond yields, which are most sensitive to Fed policy, soared following the U.S. inflation report on Tuesday.
The yield on the benchmark 10-year Treasury was also at 3.41% and the yield on the 30-year Treasury bond was at 3.46%.
Yields move inversely to prices, and a basis point is equal to 0.01%.
New Zealand’s growth recovery driven by transport, data shows
Gross domestic product in New Zealand rebounded in the June 2022 quarter, growing 1.7% after shrinking 0.2% in the previous quarter, official data showed.
Transport, postal, and warehousing jumped 19.7%, driven by air transport and transport support services, while arts, recreation and other services grew 9%.
New Zealand eased Covid restrictions earlier this year, including loosening entry requirements for tourists.
— Abigail Ng
CNBC Pro: Morgan Stanley says the S&P 500 is set for a comeback by year-end. These are its top stock picks
U.S. markets had a meltdown on Tuesday — the worst since June 2020 — following yet another hot inflation report. But that may not last for long, according to Andrew Slimmon of Morgan Stanley Investment Management, who says the S&P 500 could enjoy upside by year-end.
He predicts the level that the S&P 500 will rise to by the year end, and also picks stocks to buy into the “fear.”
— Weizhen Tan
Source : CNBC