US traders welcomed the CPI data and pushed all three main indexes higher
HONG KONG – A surge in tech firms on Thursday helped Asian markets track a Wall Street rally after data showed US inflation at a more than three-year low, reinforcing expectations the Federal Reserve will cut interest rates next week.
Bets are now surging on a 25-basis-point reduction, with talk of a 50-point shift muted by figures showing that core inflation had seen an unexpected uptick. "History shows the will only deliver a larger than 25 point cut at the start of the easing cycle if there is a recession or some other negative economic/financial shock."
The rally was fuelled by a big jump in the tech sector, with chip titan Nvidia rocketing more than eight percent, Advanced Micro Devices almost five percent higher and Microsoft piling on 2.2 percent. The spike in Japan's Nikkei was also helped by a drop in the yen sparked by expectations US rates would only likely be cut by the smaller amount.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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