Stock markets in East Asia and Australia did not show a single trend on Thursday. As the trend continues over the past few days in Shanghai and Hong Kong, the spirit is there for it. Cospi Decreased by 0.9 percent. Here, higher-than-expected inflation data in August have a negative impact. Consumer prices rose 2.6 percent year-on-year, with economists expecting only 2.3 percent.
Barclays said the data would guarantee another rate hike by the Bank of Korea in November. Analysts predict that inflation in South Korea will average 2.2 percent in 2021, compared to 2.0 percent previously expected. The central bank raised the key interest rate by 25 basis points to 0.75 per cent in August, its lowest level in 15 months.
In Shanghai, KGI Securities said it hopes China will further increase cash and financial support. Beijing has said it will spend 300 billion yuan this year to support troubled small businesses and keep economic growth within reasonable limits. In Hong Kong, the recovery in technology stocks continues even after Beijing’s more recently tightened control measures put pressure on them. In addition, the technology-heavy Nasdaq composite broke the record again yesterday in the USA. Tencent rose 1.7 percent and Alibaba 2.3 percent.
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