Asian stock markets closed the morning higher today. This was driven by the disclosure of China’s inflation data that grew less than expected.
The Nikkei morning index closed at 28,425.90, up 285.62, or +1.01%, while Hong Kong stocks were closed on October 14 for the Chung Yeung Festival.
Asian stock markets rebound After the China National Bureau of Statistics (NBS) reported today that The Consumer Price Index (CPI), a measure of inflation caused by consumer prices, rose 0.7 percent in September on an annualized basis. This slowed from a 0.8% gain in August. The CPI in September also grew less than analysts’ forecast of a 0.9% gain.
The Straits Times Index, Singapore’s stock market rose 0.35% after falling in the morning. due to news from the Central Bank of Singapore
(MAS) today announced a tightening monetary policy. through setting the exchange rate framework instead of adjusting the interest rate This would cause the Singapore dollar to appreciate or depreciate against its main trading partner currency within the target range set by the MAS.
For today’s economic data in Asia The Australian National Bureau of Statistics (ABS) reported a 138,000 drop in September jobs, more than analysts’ estimate of a 137,500 drop due to lockdown measures to contain the outbreak. Covid-19 This has resulted in the business sector laying off employees and reducing working hours.
Singapore’s Ministry of Trade and Industry reported today that Gross domestic product (GDP) in Q3/21 grew only 6.5% year-on-year. This was slower from the 15.2 percent growth in the second quarter and less than the 6.6 percent expected by analysts.
By InfoQuest News Agency (14 Oct. 64)
Tags: Asian stock market