Asian shares are mostly lower ahead of key US inflation report
BANGKOK — Shares fell Thursday in most Asian markets ahead of a key U.S. inflation report due Friday that might point the way ahead for interest rates.
The latest updates on inflation could influence the central bank’s decision on when to begin cutting interest rates, which remain at their highest level in more than 20 years and which are having an impact worldwide. Other Chinese cities have taken similar measures in line with national policies aimed at enticing buyers back into a market that has languished since the government cracked down on excessive borrowing by property developers, causing dozens of such companies to default on their debts. The downturn has dragged on the entire economy, the world’s second largest.
Elsewhere in Asia, Australia’s S&P/ASX 200 fell 1% to 7,708.10, while shares also fell in Taiwan and India. Bangkok’s SET fell, while shares rose in Jakarta and Singapore. The Dow Jones Industrial Average finished less than 0.1% higher, at 39,127.80, while the Nasdaq composite rose 0.5% to 17,805.16.Amazon.com rose 3.9%, surpassing $2 trillion in market value for the first time. Its rise comes just days after Nvidia hit $3 trillion, briefly becoming the most valuable company on Wall Street.
Several big technology companies gained ground. Apple rose 2% and Microsoft gained 0.3%. Their large values tend to heavily influence the direction of the market.
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