Asia-Pacific markets rose on Thursday as investor sentiment improved following softer-than-expected United States inflation data.
By 11:45 am AEDT (12:45 am GMT) Australia’s S&P/ASX 200 climbed 0.3%, Japan's benchmark Nikkei 225 added 1.3%, while South Korea’s Kospi 200 gained 0.8%.
Investors are also closely monitoring Indian markets after inflation in the country slowed to 3.61% in February, lower than expected, as vegetable prices declined.
Overnight, Wall Street saw a recovery among risk-sensitive sectors, driven by cooling inflation figures. The consumer price index (CPI) rose 0.2% month-on-month in February, with the annual rate easing to 2.8%, below the expected 2.9%.
The Nasdaq Composite gained 1.22% to close at 17,648.45, while the S&P 500 advanced 0.49% to 5,599.30. The Dow Jones Industrial Average slipped 0.2%, settling at 41,350.93.
Technology stocks led the rebound despite recent weakness, with Nvidia jumping 6.4% and AMD climbing more than 4%. Meta Platforms rose 2%, while Tesla surged over 7%.
In commodities, Brent crude advanced 2% to $70.95 per barrel, while spot gold rose 0.6% to $2,933.61 per ounce.
Chinese markets traded lower, with the Shanghai Composite down 0.2% to 3,371.92 and the CSI 300 falling 0.4% to 3,927.2. Hong Kong’s Hang Seng Index dropped 0.8% to 23,600.3, while India’s BSE Sensex eased 0.1% to 74,029.8.
European stocks also posted gains, with the FTSE 100 rising 0.5% to 8,541.0, Germany’s DAX climbing 1.6% to 22,676.4, and France’s CAC 40 adding 0.6% to 7,989.0.
