Asian stocks higher as investors brace for US inflation data

Sydney, Jan. 9 (BNA): Asian stocks advanced on Tuesday after a tech-led rally on Wall Street as investors look to the next set of U.S inflation numbers due this week, which could provide further clarity on when the Federal Reserve might start cutting interest rates.

 

MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.2%, after U.S. stocks ended the previous session with gains, Reuters reported.

 

 

Trading in Europe was also set for a positive turn, with the pan-region Euro Stoxx 50 futures up 0.29%, German DAX futures 0.27% higher and FTSE futures up 0.34%.

 

U.S. stock futures, the S&P 500 e-minis, were down slightly 0.1%.

 

Australian shares were up 0.95%, while Japan’s Nikkei stock index was trading 1.14% higher.

 

In Australia, the S&P/ASX200 bounced higher after November retail sales posted the biggest monthly gain in two years and comfortably topped a Reuters poll estimate.

 

Hong Kong’s Hang Seng Index was up 0.26% while China’s bluechip CSI300 Index gained 0.21% after earlier trading in negative territory.

 

 

ZH