Asian Stock Markets Trade Lower as Investors Look Forward to U.S. Inflation Data

Major stock markets in Asia traded lower on Friday despite the U.S. jobless claim plunged to a 52-year low as investors look forward to the inflation data.

 

As of 9:55 local time in Thailand on December 10, 2021, Nikkei dropped 0.40%, SSEC slipped 0.27%, Hang Seng Index fell 0.48%, ASX 200 decreased 0.54% and IDX Composite dipped 0.38%.

Thailand’s stock market is closed for holiday.

Last night, the U.S. Labor Department announced that the number of Americans applying for unemployment benefits last week dropped to the lowest level in 52 years, seeing the data as an indication that the US job market is recovering from last year’s coronavirus recession as unemployment claims dropped by 43,000 to 184,000 last week.

The Labor Department will release November’s consumer price index Friday morning local time.