Asian shares post mixed session as U.S. CPI breaches expectations
Asian share markets recorded a mixed performance during their early Friday trade. This followed after the United States rendered better-than-expected inflation data, with investors betting that the transitory nature of the pressure would keep the Federal Reserve’s monetary policy unchanged.
Another wave of coronavirus infections might emerge in Japan with or without the Olympics, and this heavily dragged the country’s benchmark index down 0.03%. Australia’s index, on the other hand, hiked as the land down under engaged in quarantine-free travel schemes with Singapore. South Korea traded 0.33% higher, while Hong Kong’s index jumped 0.17%.
The United States’ core consumer price index jumped 3.8% in the year ended May. The jump came after rapid vaccination programs prompted the country’s sectors to resume their business activities.