Asian markets rise, South Korean shares emerge ahead of US CPI report

A man looks at an electronic quotation board showing stock prices at the Tokyo Stock Exchange in Tokyo on August 2, 2022.

Kazuhiro Nogi | AFP | Getty Images

Asia-Pacific markets were higher on Tuesday as investors look ahead to the US inflation report for the month of August.

Japan̵[ads1]7;s Nikkei 225 rose 0.29%, and the Topix index ticked up 0.27%. In Australia, the S&P/ASX 200 rose 0.38%.

South Korea’s Kospi rose 2.14% as it returned to trading after a holiday on Monday, and the Kosdaq jumped 2.09%.

Mainland China’s Shanghai Composite rose 0.23%, while the Shenzhen component gained 0.516%.

The Hang Seng index in Hong Kong was little changed in early trade. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.51%.

US headline inflation is expected to ease in August, according to a Dow Jones survey. But core inflation, excluding energy and food, is projected to increase. Headline CPI is expected to come in at 8%, compared to 8.5% in July.

— CNBC’s Jesse Pound, Carmen Reinicke and Patti Domm contributed to this report.

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