Asian Shares Rise While US Futures and Oil Prices Hold Steady
· Business · The Independent, Bloomberg, Economic Times
Asian shares traded mostly higher following a modest pullback in U.S. stocks from record highs after weak retail data. Tokyo's Nikkei 225 index gained 0.3% to 68,929.33 after Japan reported second-quarter annual growth of 1.1%. Hong Kong's Hang Seng rose 1.6% to 25,521.99, and the Shanghai Composite advanced 0.8% to 3,960.19, while Australia's S&P/ASX 200 slipped 0.4% and India's Sensex fell 0.5%. Meanwhile, Brent crude edged up 0.1% to $88.62 per barrel as supply concerns persisted due to disruptions near the Strait of Hormuz. Wall Street awaits upcoming retail earnings reports from Home Depot, Target, Lowes, and Walmart alongside Federal Reserve policy minutes.
Why it matters
Global markets are balancing strong regional economic data against persistent inflation concerns and supply uncertainties in energy shipping lanes.
Read the original report — The Independent
Join us on Telegram
Breaking news the moment it lands. At 10,000 members we ship the Android app.