Nov 14, 2024 (Baystreet.ca via COMTEX) --
Asia-Pacific markets mostly fell on Thursday after the U.S. October consumer price index reading reinforced expectations that the Fed would cuts rates again in December.
In Japan, the Nikkei 225 index lost another 185.96 points, or 0.5%, to 38,535.70.
The Japanes Yen weakened below 156 against the U.S. dollar, marking its lowest level in four months. It was last traded at 155.94 against the dollar.
In Hong Kong, the Hang Seng Index shed 387.64 points, or 2%, to 19,435.81, extending a multi-day losing streak that has seen the index lose 4% this week as of Wednesday's close.
Hong Kong's markets remained open even as authorities issued a Typhoon warning, marking the first such occasion since the city changed
The U.S. CPI came in line with expectations, accelerating slightly to an annual inflation rate of 2.6%. Core CPI, which straps out volatile food and energy prices, gained 3.3% last month, also matching expectations.
Australia's unemployment rate remained steady in October at 4.1%, as economists had expected, while the number of employed people increased 15,900 from a month ago, falling short of the expected 25,000.
The participation rate, which measures the share of working-age people currently employed or seeking a job, stood at 67.1%, slightly below an estimated 67.2%.
Bui believes the Reserve Bank of Australia is unlikely to deliver a cut in December, but sees room for easing in the first half of 2025.
In other markets
In Shanghai, the CSI 300 dumped 71.27 points, or 1.7%, to 4,039.62.
In Taiwan, the Taiex tumbled 144.85 points, or 0.6%, to 22,715.38.
In Korea, the Kospi index eked ahead 1.78 points to 2,417.86.
In Singapore, the Straits Times Index took on 17.82 points, or 0.5%, at 3,738.16.
In New Zealand, the NZX 50 recovered 18.45 points, or 0.2%, to 12,692.94.
In Australia, the ASX 200 regained 30.6 points, or 0.4%, to 8,223.95.
COMTEX_459795929/2559/2024-11-14T07:28:03
