Asia Stocks Bounce Back after Chinese’s CPI Indicates an Uptick of 2.5%

Stocks in Asia edged higher on Thursday, trying to bounce back from a negative session amid rising coronavirus cases over 12 million with a death toll close to 550,000.

 

As of 9:18 local time in Thailand (GMT+7), Nikkei gained 0.27%, SSEC rose 0.41%, HSI advanced 0.42%, ASX 200 increased 0.86% and Kospi hiked 0.55%.

 

As of July 9, 2020, the coronavirus cases topped 12 million with 547,453 deaths globally. Meanwhile, the U.S. infections reached 3 million cases with 131,336 deaths, according to a Reuters tally.

Early Thursday, China’s National Bureau of Statistics reported a drop of 3% YoY on the producer price index, while the consumer price index rose 2.5% YoY.

Krungsri Securities expected a neutral session for SET Index to move between 1,355-1,370 points due to the lack of new positive factors to drive the market, even though the sentiment of a V shape recovery, reflected on the economic data of the U.S., Europe and China remain.