Asian stocks close mostly higher, awaiting US inflation data

Asian stocks closed mostly higher on Tuesday, following another round of gains on Wall Street, amid expectations that new data show that U.S. inflation slowed in August, reducing the pressure for further highs. fees.

Japan’s Nikkei index rose 0.25% in Tokyo today to 28,614.63 points, while the Kospi jumped 2.74% in Seoul to 2,449.54 points on the heels of a South Korean holiday, and the Taiex advanced 0.59% in Taiwan, to 14,894.41 points.

Also coming back from holidays, mainland China and Hong Kong markets saw modest changes.

China’s main index, the Shanghai Composite gained marginally 0.05% to 3,263.80 points, and the less comprehensive Shenzhen Composite gained 0.33% to 2,125.05 points. On the other hand, the Hang Seng fell 0.18% in Hong Kong, to 19,326.86 points.

Last Monday, New York stock exchanges ended their business higher, extending gains from last week, in the face of projections that US consumer inflation (CPI) decelerated again in August, after cooling in the previous month. The latest US CPI figures will be released this Tuesday morning.

Milder inflation could help the Federal Reserve avoid raising interest rates to a level that eventually triggers a US recession. This year, the Fed has already raised its base rates on four occasions.

In Oceania, the Australian stock market followed Wall Street and the prevailing trend in Asia, and the S&P/ASX 200 advanced 0.65% in Sydney, at 7,009.70 points.