CXSE - Asia-Pacific stocks higher amid strong China data and soft US inflation; focus on Biden-Xi talks

2023-11-15 03:01:28 ET

Japan ( NKY:IND ) +2.52% Japan's GDP shrinks more than expected in third quarter .

China ( SHCOMP ) +0.55% . China industrial production & retail sales rise, beats expectations in Oct; jobless rate steady at 5% .

People’s Bank of China injects more cash to support the weak economy, keeps rates unchanged .

Hong Kong ( HSI ) +3.80%.

India ( SENSEX ) +0.91%.

Australia ( AS51 ) +1.42%. Australian Q3 Wage Price Index +1.3% q/q (vs. expected +1.3%).

New Zealand data: Card retail sales -0.7% m/m in October (prior -0.8%).

In the U.S. on Monday, all three major indexes ended higher , amid mounting confidence that a tightening cycle from the Fed may finally be over following lower-than-expected US CPI data, pressuring Treasury yields.

U.S. stock futures edged higher on Wednesday after the major averages staged a strong rally in the last regular session: Dow +0.14% ; S&P 500 +0.18% ; Nasdaq +0.21% .

On the geopolitical front, a meeting between US President Joe Biden and Chinese President Xi Jinping in San Francisco today could provide cues on Sino-US relations.

Currencies: ( JPY:USD ), ( CNY:USD ), ( AUD:USD ), ( INR:USD ), ( HKD:USD ), ( NZD:USD ).

More on the markets

• Nasdaq posts best day since April; S&P, Dow also rise as stocks rip big gains after CPI

• Japan's GDP shrinks more than expected in third quarter
• People’s Bank of China injects more cash to support the weak economy, keeps rates unchanged
• China industrial production & retail sales rise, beats expectations in Oct; jobless rate steady at 5%

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