Stocks Struggle for Footing as US PPI Data Awaited – Asia Market Wrap

Stocks in Asia struggled to find direction as investors awaited US inflation data for indications on the Federal Reserve’s interest rate outlook.

An Asia Pacific equities index showed little change, with gains in South Korea offset by losses in Hong Kong and mainland China. Japanese stocks rose, helped by an increase in commodity company stock prices and a small weakness in the yen.

Despite officials’ promises to provide central government subsidies to encourage consumers and businesses to replace obsolete equipment and items, sentiment in Chinese marketplaces remained unstable. Shares of Asian copper miners rose as the commodity reached an 11-month high due to possible capacity restrictions at Chinese smelters.

Meanwhile, US equity contracts were slightly higher following a lacklustre day on Wednesday, with the S&P 500 closing lower and the tech-heavy Nasdaq 100 sliding 0.8%.