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Data out on Thursday showed that New Zealand's consumer price inflation was lower than expectations in the first quarter, though it remained near historic highs. Meanwhile, in Asia, Japan's elevated inflation figures kept alive market expectations that the BOJ could phase out its massive stimulus programme later this year, with all eyes now on next week's BOJ policy meeting, the first to be chaired by new central bank Governor Kazuo Ueda.
MSCI's broadest index of Asia-Pacific shares outside Japan jumped 1.8% in its third straight day of gains for the year, having fallen 20% in 2022, its worst performance since 2008. The modest recovery in stocks and bonds showed optimism about two of the factors that made 2022 such a hellish year for investors, namely the constant drumbeat of rate hikes to fight inflation and China's economy-throttling anti-COVID measures.
ANKARA - After a tumultuous week and massive losses in September, the global markets await the US job reports next week as they may shape the US Federal Reserve's monetary policies in the coming months. Increasing inflation pressures on world economies, rising energy prices, uncertainties in Asia amid Chinese real estate developer Evergrande, and the Fed signaling to begin tapering the process of scaling back its $120 billion worth of monthly bond purchases have recently created high volatility in global markets. US stock markets ended September with their worst monthly loss of 2021 so far. While the Dow Jones fell 4.3 percent last month, the S&P 500 declined 4.8 percent for its largest drop since March 2020. The Nasdaq plummeted 5.3 percent its worst September in a decade. European indices also had massive losses, with the STOXX index plummeting 3.8 percent, while Germany's DAX 30 and France's CAC 40 losing around 3.4 percent each, according to data compiled by A