Seoul skyline and the iconic Namsan Tower (photo by Ed JONES/AFP) (photo by ED JONES/AFP via Getty Images)
Ed Jones | AFP | Getty Images
Asia-Pacific markets are much higher as US inflation rose 4% yoy in May, the lowest in two years. This provides the Federal Reserve room to hold off and skip an rate of interest hike once they meet this week.
In Japan, the so-called Nike 225 it jumped 1.05% at its opening, approaching a Nikkei high of just below 39,000 in December 1989. Topix also continued to set Recent 12 months’s highs, climbing 0.85%.
In Australia, the so-called S&P/ASX200 it was up 0.32% while South Korea’s Kospi was down 0.22% and Kosdaq was close to flat.
South Korea’s unemployment rate was 2.5% in May, falling for the second straight month and lower than the 2.6% recorded in April.
The Hong Kong Hang Seng Index also had a robust open with futures at 19,535 compared to the HSI closing at 19,521.42.