Asian Markets: CPI, Inflation, Nvidia, FOMC | Wilnesh News

Asia-Pacific stocks rose on Thursday, following gains on Wall Street, driven by gains in technology stocks.

Japanese Nikkei 225 Index rose 3.41% to close at 36,833.27 points Taiwan Weighted Index It rose 2.96% to close at 21,653.25 points.

During the trading session, chipmakers and related companies extended global chip gains as bullish investor sentiment spread to Asia.

Tokyo Electronics up 4.8%, Advant test rose 9% and Renesas Electronics It rose 3.47%. SoftBank Groupowns shares in chip design company armup 8.4%.

In Korea, Cospi rose 1.67%, with the Kosdaq index of small-cap stocks gaining 3%. SK Hynix and Samsung Electronics surged more than 8% and 1.85% respectively.

British Semiconductor Closed up 4.79% Hon Hai Precision Industry — known internationally as Foxconn — rose 4.72%.

Asian chip manufacturing giant shares rise NVIDIA CEO Jen-Hsun Huang made a compelling case for future demand for artificial intelligence chips.

In addition, shares seven and me Then it surged 7.3% Bloomberg reports That Nutritional Couche-Tard is considering raising its bid for the Japanese retail group. However, the report states that Couche-Tard needs to come up with a more attractive proposal than the original $39 billion acquisition package.

Couche-Tard is still discussing its next steps and is unsure whether it will submit another proposal, Bloomberg reported, citing people familiar with the matter.

On the economic front, Japan’s producer price index increased by 2.5% year-on-year in August, lower than the expected 2.8% and the 3% announced last month. The data is one of the key indicators closely watched by the Bank of Japan. The central bank has signaled its intention to raise interest rates further in the coming months.

Investors will also release Hong Kong’s second-quarter producer price index this afternoon.

India will also release its consumer price index for August on Thursday evening. Economists polled by Reuters expected an annual increase of 3.5%, compared with 3.54% in July.

Chinese electronics manufacturer Midea Group plans to price its shares at the upper end of the pricing range in a deal that would raise at least $3.46 billion in a Hong Kong listing, Reuters reports Wednesday, citing people with direct knowledge of the matter.

The listing will be Hong Kong’s largest IPO since May 2021.

Australia’s S&P/ASX 200 index rose 1.1% to close at 8,075.7 points. Hong Kong Hang Seng Index As of the last hour of trading, the CSI 300 Index fell 0.43% to close at 3,172.9 points, up 1%.

Overnight, in the United States, broad-based S&P 500 Index rose 1.07%, while the Nasdaq rose 2.17%. this Dow Jones Industrial Average It rose slightly by 0.31%.

Major benchmarks rebounded from session lows, with core CPI rising slightly more than expected and investors changing their bets on the Federal Reserve cutting interest rates by 25 percentage points next week.

Wall Street investors will focus on Thursday’s August producer price index, with headline and core inflation figures expected to rise 0.2%, according to economists polled by Reuters. It was 0.1%, while core inflation was 0.2%.

—CNBC’s Pia Singh and Lisa Kailai Han contributed to this report.