Stocks Edge Higher; Japan's Inflation Remains Elevated

Asian stocks made a modest gain at the open Friday as a global equity rally gained fresh vigor on strong economic data that eased concerns about the US economy. The MSCI Asia Pacific Index rose 0.2% at the open. Equity-index futures for US gained after the S&P 500 and Nasdaq 100 set closing highs Thursday. Tech stocks rose as a bullish outlook from Taiwan Semiconductor Manufacturing Co. bolstered confidence in artificial-intelligence spending. Netflix Inc. also reported strong earnings and raised its forecast. We get market insights from Brian Vendig, Chief Investment Officer at MJP Wealth Advisors. Plus - Japan's key price measure cooled a tad more than expected while remaining well above the Bank of Japan's target, keeping pressure on Prime Minister Shigeru Ishiba to mollify voters as he heads into Sunday's national election. Consumer prices excluding fresh food rose 3.3% from a year earlier in June, slowing from a 3.7% gain - a two-year high - in the previous month, the Ministry of Internal Affairs and Communications reported Friday. We get reaction from former BOJ board member Sayuri Shirai, now Professor of Economics at Keio University. She speaks with Bloomberg's Shery Ahn and Haidi Stroud-Watts on The Asia Trade.See omnystudio.com/listener for privacy information.

There are no comments yet.

Please log in to write the first comment.