Asian stocks trading flat-to-low as markets await more rate cues, China buoyed by positive trade data

From Investing.com: 2024-05-08 23:27:37

Asian stocks traded flat-to-low as markets awaited more comments from Fed officials and U.S. inflation data. Chinese markets rose on stronger-than-expected import data, boosting hopes for increased domestic demand. Mainland and Hong Kong stocks climbed, while Japanese stocks rose on weak yen. Australian and South Korean markets fell on commodity weakness.

Japanese stocks shrugged off Toyota’s losses, while SoftBank fell on Arm Holdings’ weak earnings forecast. Australian and South Korean markets declined due to mining weakness. Indian futures pointed to a muted open amid election uncertainty. Fed officials continue to warn of higher rates, with key U.S. inflation data due next week, influencing market movements.



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