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Asia-Pacific markets mostly traded lower as investors weigh inflation data from several..

Freddie Green by Freddie Green
October 21, 2022
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Japan -0.29%. Core inflation in Japan rose 3% in September from a year ago, government data showed. That’s in line with analyst expectations and a slight increase compared to August’s 2.8% rise.

China +0.50%.

Hong Kong -0.17%.

Australia -0.72%.

India +0.42%.

On Wall Street overnight, U.S. stocks fell as investors digested earnings and rising Treasury yields. The Dow Jones Industrial Average dipped 90.22 points, or 0.30%, to 30,333.59. The S&P 500 shed 0.8% to 3,665.78. The Nasdaq Composite lost 0.61% to close at 10,614.84.

South Korea’s trade deficit for the first 20 days of October widened to $4.95 billion, data from the customs agency showed, after recording a deficit of $4.1 billion for the same period in September.

Malaysia’s inflation came in at 4.5%. Hong Kong is slated to release its inflation data later in the day.

Oil prices were near flat on Friday, as market participants weighed concerns about steep inflation with optimism that China could see energy demand tick up.

Brent crude futures lost 5 cents to trade at $92.33 a barrel by 00:02 GMT. U.S. West Texas Intermediate futures rose 7 cents to trade at $84.58 a barrel.

Gold prices on Friday were set for a second weekly decline as U.S. Treasury yields held near multi-year highs following strong labor market data and hawkish comments from Federal Reserve officials, dampening the appeal for zero-yield bullion.

Spot gold was flat at $1,627.20 per ounce, as of 0118 GMT, and lost 0.8% so far for the week.

U.S. gold futures were down 0.4% at $1,630.10.

Spot silver eased 0.2% to $18.63 per ounce, platinum fell 0.4% to $910.30 and palladium dropped 1.4% to $2,028.43.

U.S. futures lower. Dow Jones -0.16%; S&P 500 -0.32%; Nasdaq -0.66%

Tags: AsiaPacificdatainflationinvestorsMarketsseveral.TradedWeigh
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Freddie Green

Freddie Green

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