Asian shares gain ahead of US inflation report
image for illustrative purpose
Tokyo: Asian shares gained Friday as traders looked ahead to a key report on inflation that could influence the Federal Reserve’s next move on interest rates.Japan’s benchmark Nikkei 225 rose 0.4 per cent to 39,583.08. Australia’s S&P/ASX 200 rose 0.1 per cent to 7,768.00.
South Korea’s Kospi edged 0.1 per cent higher to 2,787.51. Hong Kong’s Hang Seng added 0.3 per cent to 17,767.93, while the Shanghai Composite surged 0.9 per cent to 2,971.18. In Japan, the government reported industrial production was stronger than forecast in May at 2.8 per cent and the unemployment rate was unchanged from the previous month at 2.6 per cent.
On Thursday, the S&P 500 eked out a 0.1 per cent gain. The benchmark index has been hovering near the all-time high it set last week. The Nasdaq composite rose 0.3 per cent and remains just below its all-time high.
