China stocks expected to rise, inflation data awaited globally.

From BNN Bloomberg: 2024-05-27 18:58:40

China-related equities were set to rise, with Hong Kong’s benchmark and Shanghai stocks poised for gains. Other Asian stocks, including Japan and Australia, are expected to open quietly. Shares of China’s major chip stocks spiked after Beijing announced a semiconductor fund. Oil rebounded for a second day, with OPEC+ supply meeting in focus.

Traders are anticipating inflation data releases from Australia, Japan, the Eurozone, and the US this week. Bank of Japan officials signal potential interest rate hikes. Federal Reserve aims for evidence of inflation reaching its 2% target before changing policy. European stocks advanced, with US futures up and dollar weakening.

European Central Bank officials debate rate cuts at upcoming meetings. A possible rate cut in June has been indicated, but future actions are uncertain. Gold gained while copper futures slid. Key events this week include IMF’s discussion with Ukrainian authorities and South African elections. US Fed releases Beige Book economic survey.

Stock futures in S&P 500, Nasdaq 100, Hang Seng, CSI 300, and Nikkei 225 rose. Currencies remained stable with the Bloomberg Dollar Spot Index unchanged. Cryptocurrencies Bitcoin and Ether saw slight declines. Australian 10-year yield held steady. Spot gold and WTI Crude prices were stable. Trading of US equities set to settle in one day due to ‘T+1’ rule.



Read more at BNN Bloomberg: China Stocks Eye Gains; Traders Await CPI Reports: Markets Wrap