Asian markets climb before US inflation data
Global markets witnessed a rise in Asian stocks and stability in bonds following a sharp sell-off, as investors await the upcoming U.S. inflation data that will determine the trajectory of interest rates. The MSCI Asia and Pacific index increased by 0.8%, with most sectors advancing. Meanwhile, SoftBank Group’s stock jumped 6% after announcing plans to raise approximately $30 billion in new funding, valuing the company at $1.4 trillion. Long-term U.S. Treasury yields remained high, while markets were affected by rising oil prices, which recovered some of their losses to reach around $103.10 per barrel, amid ongoing tensions between the United States and Iran remaining a major concern. Traders expect that upcoming U.S. personal consumption expenditure data will show an acceleration in inflation, potentially impacting Federal Reserve interest rate hike expectations. Meanwhile, Chinese real estate stocks declined following limited economic stimulus. Market sentiment is leaning toward tightening monetary policies, with rising bond yields and expectations of future interest rate increases.
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