May 24, 2024

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Asian shares mostly higher after US inflation data ease rate hike worries – The Denver Post

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By ELAINE KURTENBACH (AP Business Writer)

Shares were mostly higher in Asia on Thursday after a highly anticipated report showed inflation accelerated across the U.S. in August, but not by much more than expected.

The subdued increase in prices eased worries over the likelihood of another interest rate hike by the Federal Reserve, leading Tokyo’s Nikkei 225 to surge 1.2% to 33,104.79.

Hong Kong’s Hang Seng index slipped 0.2% to 17,969.38 on renewed concern over China’s property sector. Major real estate developer Country Garden’s Hong Kong-traded shares sank 4.6% ahead of a deadline for a bond repayment.

The Shanghai Composite index was flat, at 3,124.43, while Seoul’s Kospi gained 0.9% to 2,556.60. In Australia, the S&P/ASX 200 advanced 0.5% to 7,189.70.

On Wednesday, the…

The Associated Press

2023-09-13 22:49:03

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