Employees work in the trading room inside the Mitsubishi UFJ Trust and Banking head office in Tokyo, Japan, on Tuesday, March 19, 2024.
Asia-Pacific markets opened higher Wednesday, tracking Wall Street gains overnight that saw the Nasdaq Composite index hit a fresh record closing high despite strong inflation data.
The producer price index reading for April came in at 0.5%, above the 0.3% that economists polled by Dow Jones had expected.
The initial market reaction was negative but stocks subsequently rose as March wholesale prices were revised down to show a 0.1% decline.
Markets in South Korea and Hong Kong were shut on Wednesday for a public holiday.
Persons:
Dow Jones
Organizations:
Mitsubishi UFJ Trust, Banking, Nasdaq
Locations:
Tokyo, Japan, Asia, Pacific, South Korea, Hong Kong