(Bloomberg) — Asian stocks traded cautiously ahead of key inflation data that will provide fresh clues about the Federal Reserve’s policy outlook.
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Equity benchmarks in Hong Kong rose, led by rally in technology stocks. A gauge of Hong Kong-listed Chinese shares gained for a third day, taking its advance from a recent low to about 20%. Shares in Japan and mainland China edged lower with trading in the region muted by holidays in countries including South Korea.
“Traders are on edge for the US CPI for March,” Hebe Chen, a market analyst at IG Market Limited said. “It will bring a piece of heavy-weight evidence to either validate or disapprove of the Fed’s view that the hotter-than-anticipated readings in the previous two months were just a bump.”
Treasuries were little changed in Asian trading after advancing Tuesday. Ten-year yields fell from their highest levels this year in a sign of short exposure…
