Asian stock markets react to rising oil prices and U.S. inflation concerns

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In the wake of these developments, investors are now awaiting U.S. inflation reports and minutes from the Federal Open Market Committee (FOMC) for indications of the Fed’s future rate path. Amid this uncertainty, gold and the dollar, traditionally viewed as safe-haven assets, appreciated in value. Conversely, high Treasury yields have raised fears of potential economic turbulence.

The week opened with varied reactions across different Asian markets after a weeklong holiday. China’s Shanghai Composite index declined, while Hong Kong’s Hang Seng index saw marginal gains despite disruptions related to typhoon conditions. The Australian S&P/ASX 200 index edged up slightly, even as shares in Qantas fell by 3.8% due to potential aviation sector reforms proposed by a Coalition-led inquiry. Meanwhile, New Zealand’s S&P NZX-50 index fell by 0.73%, and Australia’s broader All Ordinaries index settled higher.

Investors continue to monitor these developments closely, with an update on U.S. interest rates expected on November 1 adding to the climate of anticipation.

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