Asian stocks ended the week mostly up today (October 16th) after fresh data revealed US annual core inflation rose 1.9 per cent in September, beating expectations.
While the figures eased worries about the health of the world's largest economy, they also renewed speculation that the US Federal Reserve could start raising interest rates this year.
The inflation numbers come a day after the release of weak US retail sales and producer prices data.
Meanwhile, investors traded cautiously due to the stronger dollar and weak oil prices, which fell for four consecutive days this week.
China's Shanghai Composite index rose 1.60 per cent to 3,391.35 after upbeat bank lending figures helped ease concerns about the economy.
Hong Kong's Hang Seng index edged up 0.8 per cent to 23,067.37, Japan's Nikkei index rose one per cent to 18,291.80 and Australia's S&P/ASX 200 index gained 0.7 per cent to 5,268.2. South Korea's Kospi index edged down 0.1 per cent to 2,030.26.
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.