GLOBAL MARKETS — Asia shares edge up as chip selloff eases; US CPI awaited
AI-related shares stabilise after selloff Oil creeps higher as supply concern persists US CPI eyed for clues on Fed rate outlook By Jiaxing Li HONG KONG, Oct 14 (Reuters) — Asian shares inched higher on Wednesday as those related to artificial intelligence found respite after a selloff, while any gain was tempered by elevated oil prices and caution ahead of U.S. inflation data later in the global day. Among firms in the AI supply chain, chipmakers Samsung Electronics and SK Hynix rose more than 2% in South Korea while Kioxia was steady in Japan, recovering some of the previous session's loss. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.5% after U.S. stocks ended the previous session with a mild loss. Japan's Nikkei rose 0.2% and South Korea's Kospi added 1.8%. Sentiment remained cautious, however, with oil prices elevated as concern over energy supplies intensified following Houthi missile and drone attacks on Saudi Arabia. U.S. crude ticked up 0.8% to $94.96 a barrel. Brent crude rose to $106.6. "After yesterday's chip-led sell-off in the region... market participants will be gauging whether shakiness across major indices eases. The geopolitical situation g
S. inflation data later in the global day. Among firms in the AI supply chain, chipmakers Samsung Electronics and SK Hynix rose more than 2% in South Korea while Kioxia was steady in Japan, recovering some of the previous session's loss. S.
stocks ended the previous session with a mild loss. 8%. Sentiment remained cautious, however, with oil prices elevated as concern over energy supplies intensified following Houthi missile and drone attacks on Saudi Arabia. S.
96 a barrel. 6. "After yesterday's chip-led sell-off in the region... market participants will be gauging whether shakiness across major indices eases.
com. In another sign of risk aversion, longer-dated bonds rallied as investors sought safety. 569% following a three-day decline. S.
bank stocks lost ground after mixed quarterly earnings results from Citigroup and peers, weighing on broader markets. S. 8. Cpi Test Awaited Market participants were awaiting US consumer price index data on Wednesday, hoping to extract clues on the Federal Reserve's interest-rate outlook.
2% on a monthly basis. "The risk is the core CPI surprises to the upside because of strong consumer demand and higher costs, pushing up market pricing of an October Fed hike and the USD," said currency strategist Carol Kong at Commonwealth Bank of Australia. Investors priced in a 22% chance of an October interest rate hike ahead of the CPI data, the CME FedWatch Tool showed. New York Federal Reserve President John Williams said the Fed may need to raise its policy rate once more this year to slow inflation, but that he sees no need for hikes in 2027.
17. 1202. Market participants were also awaiting Chinese inflation data on Wednesday, looking for signs of reviving domestic demand amid deflationary pressure. com)