Shenzhen stocks lead gains in Asia-Pacific on cooled U.S. inflation outlook
Publishing timestamp: 2023-01-16 03:18:32
Summary
Markets in Asia-Pacific mostly rose as expectations of cooled inflation in U.S. lifted investor sentiment in region. Bitcoin continued its streak of gains for thirteenth consecutive day as it passed $20000 key psychological level. Japan's producer prices rose 10.2% in December compared with year ago. There could be some opportunities in chaos, with number of companies trading at steeper discounts on price-to-earnings basis than they have in recent history. Declining inflation expectations from consumers is coinciding with expectations that Federal Reserve is likely to step down level of interest rate increases in few weeks. Tesla cut prices in U.S. and throughout Europe in what's being viewed as effort to boost sales volumes. Negative inflation reading on Thursday combined with warnings of mild recession from major banks on Friday could be signs that Fed will pause soon or even cut rates this year.
Sentiment: NEUTRAL
Tickers: @LCO.1, .SZI, .HSI, AUD=, .SSEC, @CL.1, BTC.CM=, JPY=, TSLA, .AXJO, .N225, .DXY, .KS11,
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Source: https://www.cnbc.com/2023/01/16/asia-pacific-us-sees-inflation-ease.html