Pedestrians walk past Japanese flags decorating streets in the popular tourist district of Ginza as people do last-minute shopping before the New Year holiday in central Tokyo on December 30, 2024.
Richard A. Brooks | AFP | Getty Images
Asia-Pacific stocks rose on Wednesday after weaker-than-expected inflation data from the United States sent Wall Street’s two main benchmarks higher overnight.
this producer price indexA measure of wholesale inflation rose just 0.2% in December, according to the Bureau of Labor Statistics. Economists polled by Dow Jones expected growth of 0.4%. Core producer prices, which exclude food and energy, were flat.
Asian investors also assessed Reuters Japan Tankan Survey January’s data reflects the Bank of Japan’s quarterly Tankan survey.
Business confidence among large manufacturers rebounded, with the Tankan index falling into negative territory for the first time in 10 months after being negative 1 in December.
Non-manufacturer optimism edged up to +31 from +30 in December.
benchmark Nikkei 225 Index rose 0.75%, while the Topix gained 0.86%.
Meanwhile, South Korea’s Kospi rose 0.95% and the small-cap Kosdaq rose 0.53%. South Korean investigators are trying to arrest impeached President Yoon Seok-yeol for a second time.
Hong Kong Futures Hang Seng Index The Hang Seng Index closed at 19,217 points, opening weaker than the Hang Seng Index’s 19,219.78 points.
Australian S&P/ASX 200 Index It has risen 0.29%.
Overnight in America, Dow Jones Industrial Average rose 0.52%, while S&P 500 Index The PPI rose 0.11% to 5,842.91 after the report was released. In contrast, high-tech Nasdaq Index down 0.23%.
—CNBC’s Hakyung Kim and Brian Evans contributed to this report.
