BUSINESS
Global stocks witness gains ahead of U.S. inflation data that could persuade Federal Reserve
Global stocks witness gains ahead of U.S. inflation data that could persuade Federal Reserve
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The majority of the global stocks today witnessed gains while the dollar eased modestly ahead of U.S. inflation data that could persuade the Federal Reserve and other central banks to step back from aggressive interest rate hikes.
Asian share indices rose except China’s Shanghai Composite index which declined marginally by 0.1 percent While South Korea’s KOSPI ended flat. Singapore’s Straits Times index surged one percent, Hong Kong’s Hang Seng gained 0.7 percent and Japan’s NIKKEI-225 rose 0.4 percent.
European shares were also up in intra-day trade. Germany’s DAX gained 0.8 percent, France’s CAC surged 0.7 percent and London’s FTSE 100 was trading half a percent up.
