a currency trader walks past screens displaying the Korea Composite Stock Price Index (KOSPI) at a foreign exchange dealing room in Seoul, South Korea.
According to Stephen Innes of SPI Asset Management, inflation may “remain far north of 3% by the end of 2023, simply too high for central bank comfort.
The Shanghai Composite Index SHCOMP, +0.88%, rose 0.6%, while the Hong Kong Hang Seng HSI, +1.84%, rose 1.3%. For a holiday, Japanese markets were closed.
Seoul’s Kospi 180721, -0.31% fell 0.2% after South Korea’s 2022 exports fell 9.5% year on year, resulting in the country’s largest trade deficit ever.
The S&P/ASX 200 XJO, -1.31% in Sydney, fell 1.3% after Australian house prices fell 1.1% and a manufacturing activity index fell.
Singapore stocks STI, -0.17% fell, while Jakarta stocks JAKIDX, +0.55%, rose. Markets in New Zealand were closed for the holiday.