On Thursday, following the V-shaped rebound in US stocks overnight, the Asia-Pacific market opened higher on Thursday. The Nikkei 225 index opened up 1.59% and then rapidly increased, with the increase expanding to 2.93% as of press time. The TOPIX index also increased to 2.48%.
On Thursday, following the V-shaped rebound in US stocks overnight, the Asia-Pacific market opened higher, especially with a stronger rebound in the Japanese stock market, which had fallen for seven consecutive days.
$Nikkei 225 Index (.NKY.US)$ The opening increased by 1.59%, and then the increase rapidly expanded. As of press time, the increase has expanded to 2.93%. $TOPIX (.TOPIX.JP)$ The increase has expanded to 2.48%.
The South Korean KOSPI index opened up 1.11% and increased by 1.36% as of press time. The Australian S&P/ASX 200 index increased by 0.54%. The New Zealand NZ50 index rose by 0.40% in the morning.
The US CPI for August, released overnight, rose by 2.5% year-on-year, while the core CPI unexpectedly rose to 0.3% on a month-on-month basis, indicating that inflation still has resilience and causing traders to reduce their bets on the Fed cutting interest rates by 50 basis points next week.
Although the unexpected CPI data caused some chaos, the US stock market rebounded after a hour and a half of decline, gaining momentum and closing on a positive note, against the backdrop of a clearer outlook for the US presidential election and the Fed's interest rate cut path. By the end of the trading day, the S&P 500 index rose by 1.07%; the Nasdaq index went from a decline of over 1% to a final increase of 2.17%; the Dow Jones Industrial Average rose by 0.31%.
Japanese stocks still have their own momentum.
At the same time, Japan's Producer Price Index (PPI) for August rose by 2.5% year-on-year, lower than the expected 2.8% and lower than the 3% announced last month.
This data is one of the key indicators closely monitored by the Bank of Japan. The Bank of Japan has previously hinted at raising interest rates in the coming months. However, against the backdrop of poor PPI performance, the pace of interest rate hikes by the Bank of Japan may slow down.
Because of this, $USD/JPY (USDJPY.FX)$ there was a slight increase in the morning, with an intraday gain of 0.05% as of the time of writing.
Editor/Somer