Zürcher Nachrichten - Asian markets track Wall St rally as US inflation eases rate fears

EUR -
AED 3.824403
AFN 72.783669
ALL 98.225528
AMD 409.464261
ANG 1.86853
AOA 955.849322
ARS 1064.387711
AUD 1.664145
AWG 1.874215
AZN 1.769528
BAM 1.951341
BBD 2.093416
BDT 123.896861
BGN 1.952286
BHD 0.392649
BIF 3065.294954
BMD 1.041231
BND 1.408082
BOB 7.164627
BRL 6.332664
BSD 1.036831
BTN 88.144565
BWP 14.330251
BYN 3.393046
BYR 20408.117808
BZD 2.084137
CAD 1.497322
CDF 2988.331476
CHF 0.932314
CLF 0.037326
CLP 1029.933253
CNY 7.600257
CNH 7.607949
COP 4571.001897
CRC 523.104561
CUC 1.041231
CUP 27.592608
CVE 110.014643
CZK 25.124215
DJF 184.628074
DKK 7.457658
DOP 63.135717
DZD 140.371386
EGP 53.084848
ERN 15.618458
ETB 129.24454
FJD 2.41152
FKP 0.824636
GBP 0.82807
GEL 2.926165
GGP 0.824636
GHS 15.24117
GIP 0.824636
GMD 74.968838
GNF 8957.529568
GTQ 7.988744
GYD 216.914291
HKD 8.091022
HNL 26.318854
HRK 7.468649
HTG 135.640025
HUF 414.44462
IDR 16858.094479
ILS 3.784951
IMP 0.824636
INR 88.601952
IQD 1358.196146
IRR 43822.821093
ISK 145.095638
JEP 0.824636
JMD 162.219284
JOD 0.738439
JPY 163.034814
KES 134.683497
KGS 90.587188
KHR 4166.478445
KMF 485.34358
KPW 937.106868
KRW 1512.007243
KWD 0.320761
KYD 0.864025
KZT 544.505654
LAK 22693.139901
LBP 92844.823907
LKR 304.404352
LRD 188.179957
LSL 19.088078
LTL 3.074483
LVL 0.62983
LYD 5.094358
MAD 10.434853
MDL 19.097357
MGA 4891.820837
MKD 61.496935
MMK 3381.876049
MNT 3538.101105
MOP 8.300232
MRU 41.233769
MUR 48.781555
MVR 16.046221
MWK 1797.378204
MXN 20.905883
MYR 4.674608
MZN 66.538512
NAD 19.088078
NGN 1610.210968
NIO 38.15281
NOK 11.77626
NPR 141.031704
NZD 1.841224
OMR 0.400872
PAB 1.036831
PEN 3.860777
PGK 4.204392
PHP 60.972335
PKR 288.591389
PLN 4.256512
PYG 8084.524626
QAR 3.779662
RON 4.975999
RSD 116.979118
RUB 105.531204
RWF 1445.297097
SAR 3.912738
SBD 8.729213
SCR 14.520152
SDG 626.296741
SEK 11.493389
SGD 1.411039
SHP 0.824636
SLE 23.794301
SLL 21834.086132
SOS 592.545869
SRD 36.579493
STD 21551.369123
SVC 9.072267
SYP 2616.123123
SZL 19.083389
THB 35.54656
TJS 11.342479
TMT 3.654719
TND 3.30375
TOP 2.438663
TRY 36.671935
TTD 7.036919
TWD 34.038856
TZS 2498.953516
UAH 43.482929
UGX 3803.308389
USD 1.041231
UYU 46.244319
UZS 13367.451677
VES 53.598498
VND 26496.713159
VUV 123.61697
WST 2.876699
XAF 654.461375
XAG 0.035009
XAU 0.000396
XCD 2.813977
XDR 0.790893
XOF 654.461375
XPF 119.331742
YER 260.698065
ZAR 19.131335
ZMK 9372.319369
ZMW 28.693428
ZWL 335.275796
  • RIO

    -0.0900

    58.64

    -0.15%

  • CMSC

    0.0200

    23.86

    +0.08%

  • RBGPF

    59.9600

    59.96

    +100%

  • NGG

    0.8200

    58.5

    +1.4%

  • RELX

    -0.3100

    45.47

    -0.68%

  • BTI

    0.1131

    36.24

    +0.31%

  • SCS

    -0.5800

    11.74

    -4.94%

  • CMSD

    0.0000

    23.56

    0%

  • BCE

    0.0500

    23.16

    +0.22%

  • BCC

    -0.2600

    122.75

    -0.21%

  • RYCEF

    -0.0100

    7.27

    -0.14%

  • VOD

    0.0100

    8.39

    +0.12%

  • GSK

    0.1700

    33.6

    +0.51%

  • JRI

    0.1100

    12.06

    +0.91%

  • BP

    0.1900

    28.6

    +0.66%

  • AZN

    0.9100

    65.35

    +1.39%

Asian markets track Wall St rally as US inflation eases rate fears
Asian markets track Wall St rally as US inflation eases rate fears / Photo: SPENCER PLATT - GETTY IMAGES NORTH AMERICA/AFP

Asian markets track Wall St rally as US inflation eases rate fears

Asian markets rose Monday after big gains on Wall Street, with traders welcoming below-forecast US inflation data that tempered worries that the Federal Reserve will take a more hawkish tone with interest rates next year.

Text size:

A holiday-thinned week got off to a healthy start after last week's sell-off sparked by the US central bank's outlook that suggested officials will not lower borrowing costs as much as previously hoped over the next 12 months.

Sharp losses in reaction to the forecasts were pared after data showed the personal consumption expenditures (PCE) index, the Fed's preferred gauge of inflation, came in at 2.4 percent on-year in November.

While the reading was up slightly from October, it was lower than expected, providing some optimism that policymakers were winning the battle against prices and would have room to keep cutting rates.

The figures led to a pullback in US Treasury bond yields that had jumped last week to their highest levels since May, helped by comments from Chicago Fed chief Austan Goolsbee, who expressed confidence that inflation was returning to the bank's two percent target.

Still, there remains some trepidation among investors as Donald Trump prepares to return to the White House, pledging to cut taxes, slash regulations and impose tariffs on imports, which some economists warn could reignite inflation.

Ronald Temple, chief market strategist at Lazard, said in a commentary: "The initial response to the US election was positive as investors focused on the obvious tailwinds to profitability: lower corporate tax rates and less regulation.

"However, I expect much more dispersion within the equity market when the reality of a much-less-friendly trade environment sets in."

All three main indexes in New York ended more than one percent higher.

Asia followed suit, with Tokyo, Hong Kong, Shanghai, Sydney, Singapore, Seoul, Taipei, Mumbai, Bangkok and Manila all in the green.

The dollar also held losses suffered in the wake of the PCE data, with the yen, pound and euro all stronger than Thursday.

Investors were also cheered by news that US lawmakers had reached a deal to avert a Christmastime government shutdown following marathon talks on Friday.

The last-minute scramble came after Trump and billionaire Elon Musk pressured Republicans to abandon an earlier bipartisan funding compromise.

Lawmakers then spent several days trying to hammer out another deal, with massive halts to government services hanging in the balance.

Non-essential operations would have ground to a halt if no deal had been struck, with up to 875,000 workers furloughed and 1.4 million more required to work without pay.

"This agreement represents a compromise, which means neither side got everything it wanted," President Joe Biden said on signing the bill on Saturday.

"But it rejects the accelerated pathway to a tax cut for billionaires that Republicans sought."

- Key figures around 0630 GMT -

Tokyo - Nikkei 225: UP 1.2 percent at 39,161.34 (close)

Hong Kong - Hang Seng Index: UP 0.8 percent at 19,883.17

Shanghai - Composite: UP 0.2 percent at 3,373.24

Euro/dollar: UP at $1.0441 from $1.0431 on Friday

Pound/dollar: UP at $1.2580 from $1.2567

Dollar/yen: UP at 156.53 yen from 156.45 yen

Euro/pound: DOWN at 82.97 pence from 82.98 pence

West Texas Intermediate: UP 0.5 percent at $69.81 per barrel

Brent North Sea Crude: UP 0.4 percent at $73.25 per barrel

New York - Dow: UP 1.2 percent at 42,840.26 (close)

London - FTSE 100: DOWN 0.3 percent at 8,084.61 (close)

F.Carpenteri--NZN