- Asian stocks rose in response to advances in US equities, as the US inflation rate fell to a 2-yr low, relieving pressure on global markets from rising interest rates in the world's largest economy.
- The Asian share index was on track for its highest close in more than three weeks, boosted by rises in Hong Kong, Japan, and Australia. Sony rose as high as 4.9% in Tokyo after Goldman Sachs changed its recommendation from neutral to buy.
- Hong Kong technology stocks rose for a fourth day on Wednesday after Chinese Premier Li Qiang met with senior executives from the country's leading technology enterprises. The news raised hopes that the government's crackdown on the industry is coming to an end, despite the economy's deterioration.
- The South Korean won and the Kospi index were barely altered as the BoK maintained its policy rate for the fourth time, as economists predicted.
- The dollar index edged lower after falling almost 1% on Wednesday to its lowest level in more than a year. The yen eased slightly after gaining 1.3% against the dollar on Wednesday, while the offshore yuan dipped.
- The US consumer price index fell to 3% year on year in June, down from 4% in May. The core measure, which analysts consider to be a stronger sign of underlying inflation, fell to 4.8%, the lowest level since 2021. While traders believe the Federal Reserve will raise interest rates again this month, the possibility of subsequent hikes looks to be decreasing.
