Sea shipping containers are loaded onto international freighters at Tokyo International Cargo Terminal.
Yoshikazu Tsuno | AFP | Getty Images
Asia-Pacific stocks rose sharply on Thursday after Japan’s GDP growth exceeded expectations, and Wall Street stocks also rose overnight after U.S. inflation data was in line with market expectations.
U.S. consumer prices rise The U.S. Bureau of Labor Statistics said on Wednesday that the annual increase was 2.9%, down from 3% in June and the lowest reading since March 2021. A month-on-month increase of 0.2%.
Economists surveyed by Dow Jones expected a quarterly increase of 0.2% and an annual increase of 3%.
Asian traders will focus on China’s retail sales, industrial output and urban unemployment data for July.
Japan’s second quarter gross domestic product On a quarterly basis, it beat expectations, rising 0.8%, while economists polled by Reuters had forecast a 0.5% gain.
This was also a reversal from a revised 0.6% decline in the first quarter.
However, compared with the same period last year, the country’s GDP fell for the second consecutive quarter, falling by 0.8%, continuing the 0.9% contraction in the first quarter.
Japanese Nikkei 225 Index Stocks rose 0.6%, with the Topix rising 0.9%.
Australian S&P/ASX 200 Index up 0.6%.
Hongkong Hang Seng Index The futures index was at 17,009 points, lower than the Hang Seng Index’s last closing point of 17,113.36 points.
Markets in South Korea and India were closed for public holidays.
All three major stock indexes rose after U.S. inflation data released overnight Dow Jones Industrial Average up 0.61%.
this S&P 500 Index rose 0.38%, rising for the fifth consecutive trading day, while Nasdaq Index Reversing earlier losses, it closed up 0.03%.
—CNBC’s Brian Evans and Jesse Pound contributed to this report.
