BUSINESS-MARKETS | Asian markets rise ahead of US inflation data
People cross an intersection in the central business district of Hong Kong, China, on Feb. 27, 2024. (AFP/Peter Parks)
A sian shares mostly rose on Thursday ahead of the release of crucial inflation data later in the day that will help chart the Fed’s rate cut timeline.
Investors are awaiting the release of the US Personal Consumption Expenditures (PCE) price index, the Federal Reserve’s most-watched inflation indicator, which is expected to influence the central bank’s policy decisions.
Expectations for cuts to US interest rates have shifted to later this year because recent inflation data has come in hot and Fed policymakers have taken a wait-and-see attitude, calling for more time and data showing that inflation is moving towards their two percent goal.
Memento Maxima Digital MarketingAnalysts say the PCE figures, and other US economic indicators coming Thursday, will likely influence market sentiment.
“The recent data is ‘noise’ and should be ignored outside of its impact for very short-term market movements,” Chris Zaccarelli, chief investment officer for Independent Advisor Alliance, told Bloomberg.
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AFP Hong Kong, China
Thu, February 29, 2024
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