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Asian stocks have risen, but investing concerns remain at Investing.com

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Author: Gina Lee

Investing.com – Asia Pacific stocks rose mostly on Thursday morning, surprisingly low on investors and the warmest inflationary print in the U.S. in three decades.

Japan rose 0.73% for 21:09 ET (2:09 GMT), while South Korea fell 0.31%.

In Australia, it fell by 0.84%. Australian employment data released earlier today hired 46,300 and hired 40,400 in October. It rose to 5.2%.

Hong Kong rose 0.25%.

China gained 0.46% and 0.42%.

Data released on Wednesday showed that the consumer price index (CPI) rose by 6.2% and 0.9%, respectively. The base CPI rose by 4.6% and 0.6% in October. The Producer Price Index (PPI) rose by 0.6% and 8.6% respectively. It grew by 0.4% month-on-month.

High inflation also remains a concern in China. Data released on Wednesday showed that the CPI rose by 0.7% and 1.5% in October. It grew by 13.5% year-on-year.

Higher-than-expected inflation has also led to expectations that central banks will raise interest rates. Data from China and the US also puts a hole in the argument that inflationary pressures are temporary. However, US Treasury Secretary Janet Yellen maintained her view on Tuesday that high inflation will not last beyond 2022 and that the US Federal Reserve will work to prevent a recurrence of inflation in the 1970s.

Some investors are betting that the Fed will raise rates when it ends its asset reduction by mid-2022.

“This is the perfect time to gravitate to defensive games, make a profit and be in sectors that are strategically located in this volatile market that has many challenges.” Morgan Stanley (NYSE 🙂 Katerina Simonetti, senior vice president of private wealth management, told Bloomberg.

Investors also remained concerned that China was showing signs of a slowdown in COVID-19’s economic recovery. Meanwhile, China Evergrande Group once again avoided the default after paying interest on the maturity of three U.S. bonds.

The Central Committee of the Communist Party of China will conclude its meeting on Thursday and is expected to pave the way for President Xi Jinping for an unprecedented third term. Meanwhile, China’s Annual Loose Day shopping festival is held on Thursday.

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