Mixed Trading On Asian Mkts Ahead Of US Inflation Data

Hong Kong: Asian stocks were mixed Wednesday followed Wall Street’s mostly positive performance ahead of key US inflation data that could influence the pace of market-boosting rate cuts by the Federal Reserve.US futures and oil prices were little changed.

Tokyo’s Nikkei 225 index edged 0.1 per cent higher to 38,505.54. The Kospi rose 0.2 per cent to 2,502.94 after South Korean law enforcement officials detained impeached President Yoon Suk Yeol on Wednesday in connection with his failed declaration of martial law last month. South Korea’s unemployment rate reached 3.7 per cent in December on a seasonally adjusted basis, the highest since June 2021, amid political uncertainty, the government reported. The Hang Seng in Hong Kong added 0.2 per cent to 19,264.46 after media reported that President-elect Donald Trump’s incoming economic team is discussing gradually ramping up tariffs in different phases.

The Shanghai Composite shed 0.3 per cent to 3,232.98. Australia’s S&P/ASX 200 was flat at 8,233.10.

On Tuesday, the S&P 500 rose 0.1 per cent to 5,842.91 as three out of every four stocks in the index climbed.