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Asia shares edge up as chip selloff eases; US CPI awaited
Samsung Electronics and SK Hynix rebounded more than 2% as traders awaited U.S. inflation data that could shape Fed rate expectations.
- On Oct 14, Asian shares rose as chipmakers Samsung Electronics and SK Hynix rebounded, though gains were tempered by caution ahead of U.S. CPI data release later in the day.
- Energy supply concerns intensified following Houthi missile and drone attacks on Saudi Arabia, keeping oil prices elevated and dampening investor Sentiment across the Asia-Pacific region.
- Economists estimate headline inflation reached 3.6 per cent in September, while stock futures rose 0.04 per cent and benchmark 10-year Treasury yields held steady at 5.221 per cent.
- New York Federal Reserve President John Williams noted the Fed may raise its policy rate once more this year, as the CME FedWatch Tool shows a 22 per cent chance of an October hike.
- Investors are also awaiting Chinese inflation data on Wednesday for signs of reviving domestic demand, while longer-dated bonds rallied as those on Wall Street sought safety.
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Channel News Asia+3 Reposted by 3 other sources
Asia shares edge up as chip selloff eases; US CPI awaited
HONG KONG, Oct 14 : Asian shares inched higher on Wednesday as those related to artificial intelligence found respite after a selloff, while any gain was tempered by elevated oil prices and caution ahead of U.S. inflation data later in the global day. Among firms in the AI supply chain, chipmakers Samsung Ele
·Singapore, Singapore
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Asian stocks were mostly higher on Wednesday as investors awaited new U.S. inflation data, with some technology stocks leading the way.
Coverage Details
Total News Sources12
Leaning Left1Leaning Right3Center5Last UpdatedBias Distribution56% Center
Bias Distribution
- 56% of the sources are Center
56% Center
11%
C 56%
R 33%
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