Home Business News Asia shares prudence before the US income and inflation data

Asia shares prudence before the US income and inflation data


© Reuters. A man is reflected on a stock quote in Tokyo

By Scott Murdoch

HONG KONG (Reuters) – Asian stock markets turned cautious on Tuesday after US markets weakened as investors predicted the start of corporate earnings season and the release of key inflation data to indicate a global recovery after the pandemic.

MSCI’s widest index of Asia-Pacific shares outside of Japan was trading 0.1% higher earlier Tuesday.

In Australia, the S&P / ASX200 rose 10 points to 6983.90 at the beginning of the session while up 0.9%. Technology stocks fueled a gain in Australian stocks while the country’s major miners showed signs of weakness.

Hong Kong gained 0.6% in early trading while the CSI300 mainland blue-chip index rose 0.3% ahead of March trade data due to be released on Tuesday.

The South Korean index is 0.5% higher.

“Volatility was already in the US markets as we saw it trading steadily ahead of the reporting season,” said James Rosenberg, an adviser to Baillieu Holst in Sydney.

“With record-wide markets, expect it to be very strong and that certainly doesn’t leave much room for disappointment.”

In the United States, a decrease of 55.2 points, or 0.16%, to 33,745.4, a loss of 0.81 points, or 0.02%, to 4,127.99 and a decrease of 50.19 points, or 0, 36%, down to 13,850,00.

Federal Reserve Bank of Boston President Eric Rosengren said on Monday that the US economy could recover significantly this year due to looser monetary and fiscal policy but the country’s job market remains. face weakness.

With inflation still below the central bank’s 2% target, he said, the current “highly adaptable” monetary policy stance remains relevant.

US inflation data for March will be released on Tuesday.

The 10-year benchmark yield stood at 1.6782%, holding below its 14-month high of 1.776% reached on March 30. It was trading between 1.6835% and 1.6427% during the session. America.

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