Asian Stock Market: Indices trade higher amid retreat in US Treasury yields
- Asia-Pacific shares edge higher on Thursday.
- US dollar strength limits the gains for equities and commodities.
- Investors turn cautious amid risk-off mood, ahead US CPI data.
Asia-Pacific shares gather momentum on Thursday following the gains on Wall Street in the North American session.
MSCI’s broadest index of Asia-Pacific shares outside Japan was thinly higher. Japan’s Nikkei rose 0.4%, Kospi jumped 0.58%, and Australia’s ASX/200 gained 0.4%.
The Shanghai Composite rose 0.5% after reports that Beijing and Washington have agreed to foster healthy trade and would seek cooperation over differences after a telephonic conversation between the Commerce Ministers from both sides.
The US Treasury yields slipped to 1.48% from 1.52% on Tuesday.
The central theme remains the release of the much anticipated US inflation data, which keeps investors' nerves in check. The market remains cautious at the risk of the upside surprise in the readings that could encourage the Fed to start tapering its massive stimulus.
Traders are also looking to the ECB policy meeting, where it is likely to maintain its dovish stance. Major attention will be given to the forward guidance and the economic projections.
Meanwhile, the US Dollar Index trades higher at 90.20 with 0.09% gains keeping the gains limited for the riskier assets.
Gold prices are trading lower at $1,887.95 with 0.40% losses.
Author
Rekha Chauhan
Independent Analyst
Rekha Chauhan has been working as a content writer and research analyst in the forex and equity market domain for over two years.
