Most markets advance as US inflation data looms

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Asian and European markets mostly rose Wednesday as investors jockeyed for position ahead of a key US inflation report later in the day, and Hong Kong extended gains on hopes for fresh Chinese stimulus.

Regional equities have enjoyed a broadly positive week so far after China signalled a long-running crackdown on the tech sector was nearing an end while officials also pledged help for ailing developers.

"Overall, China's data and news flow, along with market reaction, highlight Beijing's challenge, against a backdrop of anaemic demand," said National Australia Bank's Rodrigo Catril. London, Paris and Frankfurt also advanced, but Shanghai, Tokyo, Mumbai and Wellington were all lower. He added that while the Fed's favoured gauge of inflation is the personal consumption expenditures index -- which is due for release on July 28 -- this week's reports will be keenly followed as they come ahead of the bank's next policy meeting.

 

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