Asian shares mostly fall and US futures are little changed after US inflation data improves
Summary
Asian stock markets mostly dropped while U.S. stock futures remained nearly steady after news showed U.S. inflation improved more than expected in July. Oil prices stayed stable after recent decreases, and Wall Street indexes reached high levels following the inflation data.Key Facts
- Tokyo’s Nikkei index rose slightly by 0.3%, while South Korea’s Kospi climbed 1.3%.
- Hong Kong’s Hang Seng dropped 1%, Shanghai’s Composite fell 0.5%, Australia’s S&P/ASX 200 decreased 1.1%, Taiwan’s Taiex lost 0.2%, and India’s Sensex fell 0.5%.
- U.S. S&P 500 reached a record close at 7,798.99, the Dow Jones gained 0.1%, and Nasdaq went up 0.8%.
- U.S. wholesale inflation rose 4.7% in July from a year earlier, better than June’s 5.5% and economists’ expectations.
- Improving inflation might lead the Federal Reserve to pause interest rate increases, which affect borrowing costs and economic growth.
- President Donald Trump has been pushing for lower interest rates.
- Brent crude oil prices eased by 2.1% but were stable at around $87 per barrel early Friday.
- Oil price movements have been affected by tensions in the Middle East and concerns about supply routes through the Strait of Hormuz.
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