Live Market Updates Today: 11 May

Market LIVE Updates: SGX Nifty indicates positive open; Most Asian markets edge up

US Markets

The Nasdaq Composite closed higher Wednesday as investors fled to tech stocks after a tamer-than-expected inflation report. The tech-heavy index added 1.04 percent, closing at 12,306.44. The S&P 500 added 0.45 percent to close at 4,137.64. Finally, the Dow Jones Industrial Average inched downward by 0.09 percent, or 30.48 points, to end the day at 33,531.33.

April consumer prices climbed 4.9 percent from a year ago, which was less than the 5 percent gain anticipated by economists polled by Dow Jones. Month-over-month inflation matched expectations with a 0.4 percent increase in April.

European Markets

European markets closed lower on Wednesday as investors digested the latest U.S. inflation data and how it could affect the U.S. Federal Reserve’s monetary policy.

The pan-European Stoxx 600 index provisionally ended down 0.5 percent, with major bourses and most sectors in negative territory. Food and beverages stocks led the losses, down 1.4 percent. FTSE closed 0.29 percent lower at 7741. DAX closed 0.37 percent lower at 15896. CAC 40 Index closed 0.49 percent lower at 7361.

Asian markets

Asia-Pacific markets traded mixed after Wall Street saw a tech rally as U.S. consumer price index rose less than expected for April. The consumer price index showed a reading of 4.9 percent, slightly less than the 5 percent gain anticipated by economists polled by Dow Jones. Month-over-month, inflation matched expectations with a 0.4 percent increase. Investors in Asia will be closely watching the inflation print from China for April as well later Thursday, forecasted to come in at 0.3 percent, according to a Reuters poll of economists.

South Korea’s Kospi rose 0.46 percent and the Kosdaq saw a larger gain of 0.74 percent. In Australia, the S&P/ASX 200 opened 0.12 percent higher. In Japan, the Nikkei 225 traded close to the flatline, while the Topix saw a marginal loss. Futures tied to Hong Kong’s Hang Seng index stood at 19,725, lower than the HSI’s last close of 19,762.