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Hang Seng bounced slightly; Inflation in Australia rises to its highest level in 32 years

Hang Seng bounced slightly;  Inflation in Australia rises to its highest level in 32 years

Shoppers stroll the Pitt Street Mall on June 07, 2022 in Sydney, Australia.

Brendon Thorne | Getty Images News | Getty Images

Stocks in the Asia-Pacific region rose on Wednesday as sentiment improved overnight due to the prospect of the Federal Reserve becoming less aggressive.

Hong Kong Hang Seng Index It rose 1% to 15,317.67 after three consecutive negative sessions. Hang Seng Tech is up 2.48%.

in mainland China, Shanghai boat He added 0.78% to 2999.50 and Shenzhen Component It rose 1.678% to 10,818.33 — China’s Securities Regulatory Commission said Tuesday it intends to accelerate the development of a “orderly, transparent, dynamic and resilient” market.

Australia’s annual consumer price index reached its highest level since December 1990. S & P / ASX 200 It rose 0.18% to 6,810.90. The Australian dollar It last stood at $0.6468.

The Nikkei 225 In Japan, it rose 0.67% to 27431.84, and Topix rose 0.58% to 1918.21. South Korea Cosby The MSCI Index rose 0.65% to 2,249.56 — MSCI’s broadest index of Asia Pacific shares outside Japan rose 0.92%.

India market is closed for holiday. In the commodity markets, oil prices fell more than 1% and then trimmed some losses The data showed that US crude inventories rose more than expected last week. Brent crude futures contracts It lost 0.9 percent to $92.68 a barrel, while US crude futures contracts It fell 0.66% to $84.76 a barrel.

Overnight in the United States, Major indices rose for the third consecutive session as bond yields fell. The Dow Jones Industrial Average closed up 337.12 points, or about 1.1%, to close at 3,1836.74 points. The S&P 500 advanced 1.6% to close at 3,859.11. The Nasdaq Composite Index rose 2.2%, falling at 11,199.12.

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“Markets rebounded overnight on better earnings reports and speculation that the monetary tightening cycle may be nearing its end,” analysts wrote in an ANZ research note, adding that lower consumer confidence and house prices suggest that tightening policies may be beginning to dampen demand. .