Hong Cheng recovers slightly; Australia’s inflation hits 32-year high

Shoppers walk around Pitt Street evening on June 07, 2022 in Sydney, Australia.

Brandon Thorne | Getty Images News | Good pictures

Asia-Pacific shares edged higher on Wednesday as overnight sentiment suggested the Fed would become less hawkish.

of Hong Kong Hang Seng Index It rose 1% to 15,317.67 after three consecutive negative sessions. The Hang Seng Tech index rose 2.48%.

In mainland China, the Shanghai Mix 2,999.50 added 0.78% and the Shenzhen component Up 1.678% to 10,818.33 – the China Securities Regulatory Commission on Tuesday said it wants to speed up the development of a “regulated, transparent, open, vibrant and resilient” market.

Australia’s annual consumer price index hit its highest level since December 1990 S&P/ASX 200 It rose 0.18% to 6,810.90. The Australian dollar It was last at $0.6468.

The Nikki 225 Japan rose 0.67% to 27,431.84, while the Topix added 0.58% to 1,918.21. of South Korea Cosby MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.92%, up 0.65% to 2,249.56.

Indian market is closed for holidays. In commodity markets, oil prices pared some losses to fall more than 1% US crude inventories rose more than expected last week, according to reports. Brent crude futures A barrel was down 0.9% at $92.68 US crude futures It was down 0.66% to $84.76 a barrel.

Overnight in America, Major indexes rose for a third consecutive session as bond yields fell. The Dow Jones industrial average closed up 337.12 points, or about 1.1%, at 31,836.74. The S&P 500 advanced 1.6% to close at 3,859.11. The Nasdaq composite rose 2.2% to end at 11,199.12.

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“Overnight markets rebounded on better earnings reports and speculation that the monetary policy tightening cycle would end,” analysts wrote in an ANZ research note, adding that consumer confidence and lower house prices indicated that tighter policies would start to dampen demand. .

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