Asian shares wobble as investors wary before US inflation data

Singapore, June 26 (BNA):  Asian stocks stuttered in choppy trade on Wednesday as markets braced for a key U.S. inflation reading, while the yen lurked just shy of 160 per dollar level, keeping traders on alert for another round of intervention by Japanese authorities.

MSCI’s broadest index of Asia – Pacific shares outside Japan struggled for direction and was flat at 566.53, not far from the two-year high of 573.38 it hit last week, Reuters reported.

Japan’s Nikkei and Taiwan stocks rose, led by chipmakers, tracking the rally in tech heavy Nasdaq on Tuesday, with Nvidia surging over 6%, snapping out of a three-session tailspin that had erased about $430 billion from its market value.

On the U.S. monetary policy front, Fed officials urged patience on interest rate cuts, with governor Lisa Cook saying the central bank is on track for a rate cut if the economy’s performance meets her expectations. 


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