The Jakarta Post
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search results
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search resultsAsia shares edge up as chip selloff eases; US CPI awaited
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
Bull statues are pictured near screens showing the Hang Seng stock index and stock prices outside Exchange Square, in Hong Kong, China, on Feb. 3, 2026. (Reuters/Tyrone Siu)
A
sian shares inched higher on Wednesday as those related to artificial intelligence found respite after a selloff, while any gain was tempered by elevated oil prices and caution ahead of United States inflation data later in the global day.
Among firms in the AI supply chain, chipmakers Samsung Electronics and SK Hynix rose more than 2 percent in South Korea while Kioxia was steady in Japan, recovering some of the previous session's loss.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.5 percent after US stocks ended the previous session with a mild loss. Japan's Nikkei rose 0.2 percent and South Korea's Kospi added 1.8 percent.
Sentiment remained cautious, however, with oil prices elevated as concern over energy supplies intensified following Houthi missile and drone attacks on Saudi Arabia.
US crude ticked up 0.8 percent to $94.96 a barrel. Brent crude rose to $106.6.
"After yesterday's chip-led sell-off in the region [...] market participants will be gauging whether shakiness across major indices eases. The geopolitical situation globally and the impact on energy markets won't help," said analyst Kyle Rodda at Capital.com.
In another sign of risk aversion, longer-dated bonds rallied as investors sought safety. The yield on benchmark 10-year Treasury notes was steady at 5.221 percent after touching its lowest in nearly two weeks, while that on 30-year notes held at 5.569 percent following a three-day decline.
On Wall Street overnight, US bank stocks lost ground after mixed quarterly earnings results from Citigroup and peers, weighing on broader markets.
US stock futures, the S&P 500 e-minis, were up 0.04 percent at 7,858.8.
CPI test awaited
Market participants were awaiting US consumer price index data on Wednesday, hoping to extract clues on the Federal Reserve's interest-rate outlook.
On average, economists estimated headline inflation accelerated to an annual 3.6 percent in September due to rebounding energy prices, with the core CPI rising 0.2 percent on a monthly basis.
"The risk is the core CPI surprises to the upside because of strong consumer demand and higher costs, pushing up market pricing of an October Fed hike and the USD," said currency strategist Carol Kong at Commonwealth Bank of Australia.
Investors priced in a 22 percent chance of an October interest rate hike ahead of the CPI data, the CME FedWatch Tool showed.
New York Federal Reserve President John Williams said the Fed may need to raise its policy rate once more this year to slow inflation, but that he sees no need for hikes in 2027.
The dollar index, which tracks the greenback against the currencies of some major trading partners, was down at 102.17. The euro was little changed at $1.1202.
Market participants were also awaiting Chinese inflation data on Wednesday, looking for signs of reviving domestic demand amid deflationary pressure.
