Asian shares rise as investors watch Fed moves, inflation
Asian shares are mostly higher in muted trading as investors assess a slew of economic data and await moves by the Federal Reserve
TOKYO (AP) — Asian shares were mostly higher in muted trading Tuesday, as investors tried to digest a slew of economic data and awaited moves by the U.S. Federal Reserve.
Japan's benchmark Nikkei 225 rose 0.4% to 28,336.98. Australia's S&P/ASX 200 gained 0.5% to 7,366.90. South Korea's Kospi added 0.3% to 2,471.02. Hong Kong's Hang Seng jumped 1.2% to 20,850.18, while the Shanghai Composite edged up 0.2% to 3,327.35/
The Reserve Bank of Australia decided to raise its key rate, cash rate target, 0.25 of a percentage point to 3.6%. It said that although global inflation remains high, inflation in Australia is starting to subside. The hike was expected.
“Asian equities were flat on Tuesday as traders weighed the impact of economic data and awaited key events that could impact equity markets in the coming days,” said Anderson Alves at ActivTrades.
