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Asia-Pacific stocks concentrated as global markets rebounded due to a volatility attack sparked by fears of inflation.
Topix in Japan rose 1.8% on Friday, while Hong Kong’s Hang Seng added 1%. China’s CSI 300 index of shares traded in Shanghai and Shenzhen was 1.7% higher and Australia’s S & P / ASX 200 jumped 1%.
Earnings marked a turnaround in the weakness of Asian markets on Thursday on the back of this week’s US inflation data, which showed consumer prices they increased at their fastest rate in 13 years in April.
This reading, which exceeded economists ’expectations, pushed Wall Street shares to their own worse day Wednesday in months. But the US benchmark, the S&P 500, It bounced to close 1.2% more the next day.
Ten-year U.S. Treasury yields varied little, with 1.654% during Asian trading on Friday, after falling 0.04 percentage points in the U.S. overnight.
S&P 500 futures rose 0.5%, while London’s FTSE 100 futures were 0.7% higher.
Global markets have been tense as investors and policymakers watch signs of higher inflation in the context of a global economic recovery from the coronavirus pandemic.
This has sparked fears among investors that the US economy may overheat after fiscal support and that the Federal Reserve may be forced to tighten monetary policy.
“While interest rates are likely to remain accommodative in the short term, inflationary pressures are likely to warm as the U.S. economy continues to recover to normalized levels,” said David Chao , global market strategist for Invesco. “The Fed could be forced to react sooner rather than later.”
Commodities, yes they met significantly in recent weeks, it weakened on Friday. Brent crude, the international benchmark for oil, fell 0.5% to $ 66.70 a barrel. The US West Texas Intermediate fell 0.5 percent to $ 63.50 a barrel.
The Colonial Pipeline, a critical fuel artery in the United States, resumed operations Wednesday after being shut down late last week for a cyberattack.
Gold, which some investors consider a hedge against inflation, lost 0.3% to trade at $ 1,821.8 an ounce.
Additional reports from Daniel Shane in Hong Kong
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