Positive trend for the Asian stock exchanges, with the exception of the Nikkei 225 index of the Tokyo stock exchange, which closed down by 0.09%, at 32,391.26 points.
Hong Kong shares rose 0.45%, while Shanghai gained 0.18%. The Seoul Stock Exchange scores a jump of more than 1%.
The buys can be explained by the umpteenth good performance of Wall Street on the eve.
Yesterday, the S&P 500 closed up 0.85% at 4,510.04, while the Dow Jones Industrial Average was up 47.71 points, +0.14%, at 34,395.14.
The Nasdaq Composite jumped 1.58% to 14,138.57.
For all three US stock indexes, it was the fourth consecutive session of increases.
The US PPI index confirmed the weakening of inflationary pressures, reporting growth in June of +0.1% on a monthly basis, below the growth of +0.2% expected by analysts.
The US core PPI index also rallied 0.1%:
the rise, again lower than expected, confirmed the hopes that Jerome Powell’s Fed may be close to concluding the cycle of monetary tightening launched more than a year ago, in order to defeat the surge in inflation.
In Australia, focus is on the government’s decision to appoint the current deputy governor of the RBA (Reserve Bank of Australia) Michele Bullock as the next governor of the central bank, in place of the current president Philip Lowe. The reaction of the Sydney Stock Exchange is positive (+0.80% approximately).