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Inflation weighs on Asian stock markets - investors remain cautious
Asia/Pacific equities: Bond yields weigh on stock markets. Read how US consumer prices affect the stock markets and what experts are predicting. Get more insights here!
Inflation weighs on Asian stock markets - investors remain cautious
Asian stock markets turned lower on Thursday, with Wall Street's impact felt but losses remaining limited. Bond markets weighed on stock markets following disappointing US consumer prices. In particular, the rising costs in the service sector, especially in the residential sector, prevented the deflation process in the USA from continuing. This led to the Landesbank Baden-Württemberg postponing its forecast for the first Fed key interest rate cut from June to July.
The market mood was one of caution as expectations of interest rate cuts in June are cautious due to current market developments. The sell-off in US bonds continued in Asia, leading to significant rises in yields in Japan and Australia. The Japanese leading index Nikkei-225 fell by 0.35 percent, while the Australian stock market barometer S&P/ASX 200 fell by 0.44 percent.
The Chinese stock exchanges also showed a negative development, with the CSI 300 recently falling by 0.11 percent to 3,500.69 points. The disappointing consumer price increases in March in China indicated that the population's willingness to spend remains low. The Hang Seng Index in Hong Kong also fell 0.34 percent to 17,081.56 points after the previous day's gains, which was due to falling prices in interest rate-sensitive technology stocks.