Asia-Pacific markets were mixed as the inflation in the U.S. rose at a 4% annual rate in May, the lowest in two years, giving room for the Federal Reserve to pause and skip a rate hike in its June meeting.
In Japan, the Nikkei 225 popped 1.47% to close at 33,502.42, recording its fifth straight session of gains. The Topix also climbed 1.31% to end at 2,294.53, its highest level this year.
Shares of Toyota rose to mark the highest in 16 months after the company’s shareholders voted to retain Akio Toyoda as its chairman in a broad endorsement of its strategy.
In Australia, the S&P/ASX 200 climbed 0.32% to end at 7,161.7 in a third-straight daily gain.
Hong Kong’s Hang Seng index fell 0.82%, while mainland Chinese markets were more mixed, with the Shanghai Composite down 0.14% and the Shenzhen Component up 0.26%.
South Korea’s Kospi fell 0.72% to end the day at 2,619.08, continuing to retreat from its year high on June 9, while the Kosdaq tumbled 2.79% to close at 871.83 as the nation’s unemployment rate returned to a record low of 2.5% seen last August.
Overnight in the U.S., the S&P 500 and the Nasdaq Composite notched fresh 13-month highs during Tuesday’s session.
The Dow Jones Industrial Average climbed 0.43%, while the S&P 500 added 0.69%. The Nasdaq Composite posted the largest gains, rising 0.83%. Currently, the S&P is up about 25% from its October low, surpassing the simplistic definition of a bull market.
Source : CNBC
