Stocks dipped in Asian Market opening trades today, following a Wall Street retreat and caution ahead of US inflation data that will shape investor expectations for further Federal Reserve interest-rate hikes. An Asia equity gauge dropped, dragged lower by declines in technology stocks. Chinese shares wavered as traders evaluated slower-than-anticipated consumer and factory inflation in the world’s second-largest economy. US contracts fluctuated following a drop in the S&P 500 for a fourth session. Treasury yields and a dollar gauge were steady, crude oil hovered above $90 a barrel, and both gold and Bitcoin were on the back foot. A report later today, is expected to show headline US consumer-price inflation cooled but stayed elevated in July, while the core reading may have quickened on an annual basis. How the figures affect views on Fed tightening will be key for risk sentiment. In currencies today, the Japanese yen was at 135.05 per dollar, down 0.1%. The euro was up by 0.03% at $1.0214. The pound was almost flat at $1.2081. The offshore yuan was at 6.7590 per dollar, down 0.1% The Indian rupee opened stronger with a gap of 10 paise at 79.56/57 against its previous session’s close of 79.66/67 and is expected to trade between 79.40– 79.80 band today.
Available to subscribers only!
