Asian Markets Cautious Ahead of US Inflation Data as Tariff Impact Looms – Asia Market Wrap
Asian shares moved in a narrow range as traders awaited inflation data from the US to gauge the impact from President Donald Trump’s tariff war before adding to their portfolios.
The MSCI Asia Pacific Index swung between small gains and losses, and shares in mainland China dipped 0.5%. While China’s economic growth beat estimates on strong exports, consumer demand at home remained weak. Contracts for the Nasdaq 100 index rose 0.4% as Nvidia Corp. said it plans to resume some chip sales to China.
Japan’s 10-year government bond yield climbed to its highest level since 2008 amid concerns about fiscal spending. Gold rose while Treasuries and a gauge of the dollar were steady. Bitcoin fell 2.3% to trade around $117,400.
Stocks globally have rallied from their slump in April, when wide- ranging tariffs were announced, to record high levels as investors speculate the levies won’t significantly harm the US economy and company earnings. That optimism faces a key test this week as investors read the US inflation print Tuesday, which will give clues on the impact from Trump’s tariffs and the direction for interest rates while the corporate reporting season kicks off.
