Global markets today: Asian markets opened on a positive note, mirroring Wall Street gains after the latest U.S. inflation data boosted hopes of a potential interest rate cut by the Federal Reserve next month.
Japan’s Nikkei 225 climbed 1 per cent after hitting a record high on Tuesday, while the broader Topix index gained 0.72 per cent.
In South Korea, the Kospi rose 1.07 per cent, and the small-cap Kosdaq advanced 0.88 per cent. Meanwhile, Australia’s S&P/ASX 200 edged up 0.29 per cent.
Hong Kong’s Hang Seng index futures were at 25,144, indicating a higher opening versus the previous HSI close of 24,969.68.
U.S markets today
US stock benchmarks — the S&P 500 and Nasdaq — closed at record highs on Tuesday after data showing July inflation matched expectations boosted hopes for a Federal Reserve interest rate cut next month.
According to the Labor Department, the Consumer Price Index (CPI) increased 0.2 per cent month-on-month in July, while the annual rate came in slightly below estimates, prompting US President Donald Trump to call for lower interest rates.
The Dow Jones Industrial Average climbed 483.52 points, or 1.10 per cent, to 44,458.61. The S&P 500 added 72.31 points, or 1.13 per cent, to 6,445.76, and the Nasdaq Composite jumped 296.50 points, or 1.39 per cent, to 21,681.90.
The U.S. and China provided relief by extending their tariff ceasefire until November 10, preventing the imposition of triple-digit tariffs on each other’s goods.
In recent weeks, U.S. equities have gained momentum, supported by robust tech earnings, reduced trade frictions, and growing expectations of interest rate cuts.
(With inputs from agencies)
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