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Asian stocks await US inflation figures
Asian stocks showed mixed performance ahead of the release of U.S. inflation data. Japanese equities rose supported by chip companies and the performance of SoftBank's stock, while Korea's KOSPI index and Hong Kong's Hang Seng declined. Long-term U.S. Treasury bond yields fell, with the 30-year bond yield decreasing to around 5.56%. Meanwhile, oil prices saw a slight increase amid continued uncertainty related to the Middle East conflict and energy prices. Investors are awaiting the U.S. Personal Consumption Expenditures (PCE) price index data for August, which is likely to influence monetary policy direction and U.S. interest rate expectations, especially since inflation appears to be rising above the Federal Reserve's 2% target.
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