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<\/figure>\n\n\n\nWall Street\u2019s benchmark S&P 500 index rose 0.9% to a 14-month high ahead of the release of U.S. inflation figure Tuesday. Forecasters expect it to show inflation eased in May but still was double the Fed\u2019s 2% target despite interest rate hikes to cool business activity.<\/p>\n\n\n\n
Traders hope the Fed will skip another rate increase when its monthly board meeting ends Wednesday, but that might be complicated if inflation is higher than expected. Central banks in Europe and Japan also are due to meet this week to discuss possible rate hikes.<\/p>\n\n\n\n
The Fed\u2019s benchmark lending rate is at a 16-year high, which has led to a contraction in manufacturing activity and three high-profile bank failures.<\/p>\n\n\n\n
\u201cThe bull market rally looks like it doesn\u2019t want to stop,\u201d said Edward Moya of Oanda in a report. \u201cWall Street appears confident that the Fed will not be delivering its 11th straight rate hike this week.\u201d<\/p>\n\n\n\n
The Shanghai Composite Index lost less than 0.1% to 3,226.89 after China\u2019s central bank lowered its one-week lending rate for the first time since last summer. That appeared to reflect official concern about the health of China\u2019s economic recovery after growth in factory and consumer activity weakened.<\/p>\n\n\n\n
The Nikkei 225 in Tokyo surged 1.9% to 33,053.90 and the Hang Seng in Hong Kong advanced 0.4% to 19,478.55.<\/p>\n\n\n\n
The Kospi in Seoul added 0.6% to 2,644.78 and Sydney\u2019s S&P-ASX 200 was 0.1% higher at 7,129.50.<\/p>\n\n\n\n
New Zealand and Bangkok advanced while Singapore and Jakarta declined.<\/p>\n\n\n\n
On Wall Street, the S&P 500 rose Monday to 4,338.93 and its highest close since April 2022.<\/p>\n\n\n\n
The Dow Jones Industrial Average gained 0.6% to 34,066.33. The Nasdaq composite rallied 1.5% to 13,461.92.<\/p>\n\n\n\n
Investors see high-growth stocks as some of the biggest beneficiaries of lower rates, and they led the market Monday. Tech stocks alone accounted for more than half the S&P 500\u2032s gain, powered by gains of at least 1.5% for both Microsoft and Apple.<\/p>\n\n\n\n
Forecasters expect Tuesday\u2019s inflation update to show consumer prices rose 4.1% over a year earlier last month. That would be down from April\u2019s 4.9% and last June\u2019s peak above 9% but more than double the Fed target of 2%.<\/p>\n\n\n\n
Two Fed board members have said the Fed should hold off on a rate increase this week while it gathers data on the impact of previous hikes.<\/p>\n\n\n\n
On Monday, Switzerland\u2019s UBS said it has completed its takeover of rival Credit Suisse in a government-arranged rescue combining the country\u2019s two largest banks.<\/p>\n\n\n\n
In energy markets, benchmark U.S. crude rose 36 cents to $67.48 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell $3.05 on Monday to $67.12. Brent crude, the price basis for international oil trade, gained 54 cents to $72.38 per barrel in London. It lost $2.95 the previous session to $71.84.<\/p>\n\n\n\n
The dollar declined to 139.40 yen from Monday\u2019s 139.62 yen. The euro advanced to $1.0778 from $1.0756.<\/p>\n","protected":false},"excerpt":{"rendered":"
Asian stock markets were mostly higher Tuesday ahead of a U.S. inflation update and a Federal Reserve decision on another possible interest rate hike. Shanghai declined while Tokyo and Hong Kong advanced. Oil prices rebounded from Monday\u2019s plunge. Wall Street\u2019s benchmark S&P 500 index rose 0.9% to a 14-month high ahead of the release of […]<\/p>\n","protected":false},"author":8,"featured_media":35121,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_post_source_name":"","_post_source_url":"","footnotes":""},"categories":[61],"tags":[3504,5274,10212,7207,3884,7358,9330,7682,9188,3977,9743,7396,10391,5195,5494,2419,6621,11365,9883,7200,2264,6543,12634,3883,12773,6546,7201,10954,2959,5139,1821,3684,10634,10742,9833,11352,8968,990,5187,11441,5441,1761,11973,12103,10390,5333,10214,6431,9058,8370,5601,4064,6327,11325,7333,5348,3346,10236,1705,10329,8050,13307,9744,6348,10829,3954,9215],"class_list":["post-35120","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-apple","tag-asia","tag-asia-market","tag-asian","tag-bangkok","tag-bank","tag-banks","tag-brent","tag-bull","tag-central-bank","tag-credit-suisse","tag-data","tag-declined","tag-dollar","tag-energy","tag-euro","tag-europe","tag-factory","tag-fed","tag-federal-reserve","tag-government","tag-growth","tag-health","tag-hong-kong","tag-increase","tag-inflation","tag-interest-rate","tag-international","tag-japan","tag-jones","tag-kong","tag-london","tag-lost","tag-market","tag-meeting","tag-microsoft","tag-nasdaq","tag-new-york","tag-new-zealand","tag-nikkei","tag-oil","tag-oil-prices","tag-one","tag-price","tag-prices","tag-rally","tag-rates","tag-release","tag-sp","tag-seoul","tag-shanghai","tag-singapore","tag-stock","tag-street","tag-summer","tag-switzerland","tag-sydney","tag-tech","tag-tokyo","tag-trade","tag-traders","tag-trading","tag-ubs","tag-us","tag-wall-street","tag-will","tag-yen"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/35120","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/comments?post=35120"}],"version-history":[{"count":0,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/35120\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media\/35121"}],"wp:attachment":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media?parent=35120"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/categories?post=35120"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/tags?post=35120"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}