The global market is witnessing positive signals with a notable strength in Asian markets. China is implementing new policies to revive its factory activity amid a slowdown in global demand. On Friday, the US markets experienced a strong rise due to the softening of PCE inflation.
Global Market Witnesses Positive Signals with Asian Markets’ Strength
In the US, there are promising signs of improvement. PCE inflation has declined for the third consecutive month in June, standing at 2.97%, down from 3.82% in May. Additionally, the Q2 GDP figures showed an improvement, reaching 2.4% compared to 2% in Q1. However, the June core PCE index figures came slightly lower than expected at 4.1% against the market’s anticipation of 4.2%. The US factory order figures and job opening figures are eagerly awaited this week.
US Markets Experience Strong Rise on Softening of PCE Inflation
Meanwhile, in Asia, the situation varies in different markets. GIFT NIFTY remains flat, while Nikkei displays a 1.51% increase at 33,262.74. The Strait Times shows a marginal increase of 0.01%. Taiwan’s market is trading up 0.28% at 17,342.52, and Hangseng displays a gain of 1.76% at 20,267.73. Kospi witnesses an increase of 0.81%. The Shanghai Composite shows a rise of 0.66% at 3,297.51.
As investors watch closely, the global market remains dynamic, influenced by economic data, policy changes, and market sentiment. China’s efforts to boost its factory activity through new policies will be a significant factor to monitor in the coming days, along with the US market’s response to key economic indicators.
