Benchmarks rose across the Asian region, but stayed in a narrow range.
BANGKOK — Asian shares are higher after Wall Street logged modest losses, as investors await key U.S. inflation data. Benchmarks rose across the region, but stayed in a narrow range.
The Labor Department’s release of the consumer price index comes shortly before a meeting next week of the Federal Reserve’s Open Market Committee, which sets policy on interest rates and other measures. On Wednesday, a slide in banks and industrial companies nudged stocks on Wall Street to modest losses after an early gain faded in the last half-hour of trading. Stocks championed by hordes of online retail investors, the “meme” stocks as they have become known, were volatile once again.
Treasury yields slipped. The yield on the 10-year Treasury TMUBMUSD10Y, 1.483% fell to 1.48% from 1.52% late Tuesday. The falling yields have weighed down banks, which rely on higher yields to charge more lucrative interest on loans.
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