Daily Dose, EU

World Stocks Are About to Hit All-Time Highs Ahead of US CPI – Asia Market Wrap

Following a significant tech-driven surge in US indices, global equities are poised to reach new heights as investors await important inflation data that could provide guidance on the Federal Reserve’s policy.

The longest run since January was continued by the MSCI All Country World Index, which increased. After closing at a two-year high on Tuesday, an Asian benchmark gauge increased, with Taiwan Semiconductor Manufacturing spearheading the rally. While stocks in mainland China declined, those in Japan and Australia increased. The markets in Hong Kong are closed for the holiday.

A mixed reading on producer inflation and Fed Powell’s warnings that interest rates will remain higher for longer were dismissed by the S&P 500 ahead of the release of the US consumer price index data. Early Asia trade saw a little increase in US futures.

In the business sector, Sony’s shares increased following the release of its quarterly results report, as investors praised the company for its mid-term goal and shareholder return policy.