Asia-Pacific markets rose across the board Thursday after the U.S. inflation rate for June came in lower than expected at 3%, the smallest year-over-year increase in two years.
The figure was lower than the 3.1% expected by economists polled by Dow Jones.
Month over month, the inflation rate rose 0.2%, less than forecast. Core CPI — which strips out volatile food and energy prices — also rose less than expected.
In Japan, the Nikkei 225 rocketed 475.4 points, or 0.8%, to 32,419.33.
In Hong Kong, the Hang Seng zoomed 489.67 points, or 2.6%, to 19.350.62.
Korean markets gained ground as the Bank of Korea held its key policy rate unchanged at 3.5%, in line with expectations.
CHINA
The CSI 300 recovered 54.98 points, or 1.4%, to 3,898.42.
China’s June trade data came in below expectations in June, with exports recording its biggest decline in more than three years.
In other markets
In Singapore, the Straits Times Index piled on 63.1 points, or 2%, to 3,238.42.
In Korea, the Kospi Index added 16.51 points, or 0.6%, to 2,591.23.
In Taiwan, the Taiex index popped 99.37 points, or 0.6%, to 17,061.40.
In New Zealand, the NZX 50 surged 105.16 points, or 0.9%, to 12,013.43.
In Australia, ASX 200 climbed 111.23 points, or 1.6%, to 7,246.91.
