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Asia-Pacific Stocks Mixed as Investors Await U.S. Inflation Data; RBI Holds Steady on Interest Rates

Toru Hanai | Bloomberg via Getty Images
  • Shares in Asia-Pacific were mixed on Thursday as investors awaited the release of U.S. consumer inflation data.
  • The Reserve Bank of India's governor announced Thursday that the monetary policy committee voted to keep the repo rate โ€” or the rate at which the central bank lends to commercial lenders โ€” unchanged at 4%.
  • The U.S. consumer price index report is set to be released Thursday stateside.

SINGAPORE โ€” Shares in Asia-Pacific were mixed on Thursday as investors awaited the release of U.S. consumer inflation data.

Mainland Chinese stocks closed mixed, with the Shanghai composite rising 0.17% to 3,485.91 while the Shenzhen component dipped 0.733% to 13,432.07.

Hong Kong's Hang Seng index gained 0.15%, as of its final hour of trading. Hong Kong-listed shares of China Evergrande Group soared more than 4%. The embattled developer aims to deliver 600,000 apartments in 2022, but was not looking to a fire sale of its assets to clear its debts, Reuters reported Wednesday.

In India, the Nifty 50 rose 0.84% while the BSE Sensex gained 0.85%, as of 12:59 p.m. local time.

The Reserve Bank of India's governor announced Thursday that the monetary policy committee voted to keep the repo rate โ€” or the rate at which the central bank lends to commercial lenders โ€” unchanged at 4%.

The RBI's reverse repo rate, or the rate at which commercial banks lend to the central bank, also remained steady at 3.35%.

Following that announcement, the Indian rupee was at 74.9625 per dollar, weaker than an earlier high of 74.778 seen against the greenback.

Elsewhere, the Nikkei 225 in Japan gained 0.42% to close at 27,696.08 while the Topix index rose 0.53% to 1,962.61. South Korea's Kospi advanced 0.11% on the day to 2,771.93.

In Australia, the S&P/ASX 200 climbed 0.28%, closing at 7,288.50.

MSCI's broadest index of Asia-Pacific stocks outside Japan gained 0.61%.

Overnight stateside, the Dow Jones Industrial Average jumped 305.28 points to 35,768.06 while the S&P 500 gained 1.45% to 4,587.18. The Nasdaq Composite outperformed, surging 2.08% to 14,490.37.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 95.579.

The Japanese yen traded at 115.61 per dollar, still weaker than levels below 115 seen against the greenback earlier this week. The Australian dollar was at $0.7177, largely holding on to gains after its climb from below $0.712 earlier in the week.

Oil prices were lower in the afternoon of Asia trading hours, with international benchmark Brent crude futures falling 0.32% to $91.26 per barrel. U.S. crude futures shed 0.18% to $89.50 per barrel.

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