MSCI's broadest index of Asia-Pacific shares outside Japan up 0.1%, while Japan's nikkei gains 0.3%
A statue of a bull is displayed outside the Shenzhen Stock Exchange in the southern Chinese city of Shenzhen. File Picture: REUTERS/BOBBY YIP
MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.1%, while Japan's nikkei recouped early losses to gain 0.3%. Markets will be on tenterhooks for the US consumer price report on Friday, especially after EU inflation shocked many with a record high last week. Some analysts thought Friday's upbeat payrolls report suggested the Fed is on track for a soft landing.
The European Central Bank meets on Thursday and President Christine Lagarde is considered certain to confirm an end to bond buying this month and a first rate hike in July, though the jury is out on whether that will be 25 or 50 basis points.“Recent communication by ECB officials have looked to 25bp increases at July and September to exit negative rates by the end of Q3, though with some members preferring to leave the door to larger 50bp hikes open,” said analyst at NAB.
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