Asian stocks rise on positive CPI data, but challenges from China and Japan limit gains

From Investing.com: 2024-05-15 23:30:39

Asian stocks rose on Thursday following record highs on Wall Street, fueled by expectations of interest rate cuts in 2024. Despite challenges from China and Japan, markets remained optimistic. Wall Street finished strong, boosting Asian markets. Japan’s Nikkei 225 rose, but soft GDP growth limited gains, especially in more economically-sensitive sectors.

China’s indexes lagged due to trade tensions from higher U.S. tariffs on key Chinese sectors. Uncertainty loomed over the economic impact and the threat of retaliatory measures. Anticipation of economic data on Friday added to caution. Other Asian markets advanced with Australia’s ASX 200 leading the pack, driven by positive labor market data.

Overall, Asian markets show resilience amid global challenges, with tech stocks leading gains. Caution over economic uncertainties and upcoming events like the Indian general elections may temper gains in the near future. Investors remain observant of potential impacts on various sectors from geopolitical tensions and policy decisions.



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