Stock market today: Asian stocks mixed ahead of US inflation data
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Asian stocks were mixed Wednesday followed Wall Street’s mostly positive performance ahead of key U.S. inflation data that could influence the pace of market-boosting rate cuts by the Federal Reserve. U.S. futures and oil prices were little changed. Tokyo’s Nikkei 225 index edged 0.1% higher to 38,505.54.
The Kospi rose 0.2% to 2,502.94 after South Korean law enforcement officials detained impeached President Yoon Suk Yeol on Wednesday in connection with his failed declaration of martial law last month. South Korea's unemployment rate reached 3.7% in December on a seasonally adjusted basis, the highest since June 2021, amid political uncertainty, the government reported.
The Hang Seng in Hong Kong added 0.2% to 19,264.46 after media reported that President-elect Donald Trump’s incoming economic team is discussing gradually ramping up tariffs in different phases. The Shanghai Composite shed 0.3% to 3,232.98. Australia’s S&P/ASX 200 was flat at 8,233.10.
On Tuesday, the S&P 500 rose 0.1% to 5,842.91 as three out of every four stocks in the index climbed. The Dow Jones Industrial Average added 0.5% to 42,518.28, and the Nasdaq composite slipped 0.2% to 19,044.39. Stocks got a boost from a report showing inflation at the U.S. wholesale level wasn’t as high last month as economists expected. It’s an encouraging signal ahead of a report coming later in the day, which will show how much inflation U.S. consumers faced at gasoline pumps, grocery registers and auto lots in December.
