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Five-year high in Australian CPI elevates Asian stock markets
Apr 30, 2020SYDNEY, Australia – Stocks in Asia closed slightly firmer on Wednesday, although Japanese shares dipped slightly.
Australia’s headline consumer price index rose in the first quarter surprisingly rose to 2.2% on an annualised basis, a more than five year high.
The Australian share market rose strongly on the positive, and unexpected data. The All Ordinaries was the best performer in the region, rising 82.60 points or 1.53% to 5,463.80.
In Japan, the Nikkei 225 slipped 12.03 points or 0.06% to 19,771.19.
China’s Shanghai Composite gained 12.42 points or 0.44% to 2,822.44.
The Hang Seng in Hong Kong strengthened 35.59 points or 0.14% to 24,611.55.
The U.S. dollar failed to get any upward momentum on Tuesday. The euro was unchanged, holding on to recent gains at 10.0865. The British pound edged a little higher to 1.2452. The Japanese yen rose to 106.45. The Swiss franc firmed to 0.9722.
The Australian dollar drifted a tad lower to 0.6534. The New Zealand dollar jumped to 0.6101.
Overnight on Wall Street, the Dow Jones Industrial Average was down 32.23 points, or 0.13%, at 24,101.55.
The Standard and Poor’s 500 fell 15.09 points, or 0.52%, to 2,863.39.
The Nasdaq Composite was off 122.43 points, or 1.4%, to 8,607.73.
(Photo credit: fxstreet.com/Goorufbot).
