Here’s What to Watch in Asian Markets After Fed Decision, CPI

-- Asian stocks and currencies advanced on Thursday after the double-whammy of a Federal Reserve rate decision and US consumer price data.Equities and dollar-denominated bonds are seen benefiting, even if the bullish inflation reading was tempered by Fed officials pulling back their rate cut forecasts for the year, according to strategists. Currencies like the rupiah and won are expected to outperform, they said, though some warned that the chance of a stronger dollar hadn’t gone away.

“The ‘turning-point-potential’ CPI report prompts investors to adopt a glass-half-full view,” said Hebe Chen, an analyst at IG Markets. “With at least five rate cuts remaining firmly on the table over the next 18 months, continuing the current upward journey of risk equities seems fairly justified.”“Wall Street has a tendency to see what it wants, and I can’t say I’m seeing the same bullish enthusiasm” in Asia, said Matt Simpson, a senior market strategist at City Index Inc.

-- Investors shed their fears of a hawkish Federal Reserve, according to Bloomberg’s latest Markets Live Pulse survey, signaling that slower inflation means a soft landing remains in play.Most Read from BloombergHunter Biden Was Convicted. His Dad’s Reaction Was Remarkable.US Inflation Broadly Cools in Encouraging Sign for Fed OfficialsFed Officials Dial Back Rate Forecasts, Signal Just One ‘24 CutBlinken Casts Doubt on Cease-Fire Hopes After Hamas RespondsStock Bull Run Breaks RecorThe U.S.

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