Asian stock exchanges are gaining ground – concerns about inflation are fading into the background

Tokyo Asian share prices were initially stronger on Friday. The shock over the surprisingly high inflation in the US seems to have subsided, and investors are now hoping that the price increases will soon be over. “Of course, inflation is a risk to watch out for. But stock prices will only see a major crash if the Federal Reserve proves completely wrong in its assessment and is forced to hike rates quickly. That is currently not the case, ”said Norihiro Fujito, chief investment strategist at Mitsubishi UFJ Morgan Stanley Securities. “If we can get through the Christmas shopping season, when demand peaks, inflation may ease,” added Hirokazu Kabeya, chief strategist at Daiwa Securities.

The Nikkei Index, which comprises 225 values, was 1.2 percent higher at 29,614 points. The broader Topix index rose 1.2 percent to stand at 2039 points. The Shanghai stock exchange was unchanged. The index of the most important companies in Shanghai and Shenzen lost 0.1 percent.

In Asian foreign exchange trading, the dollar gained 0.2 percent to 114.24 yen and rose 0.1 percent to 6.3960 yuan. In relation to the Swiss currency, it was quoted 0.2 percent higher at 0.9227 francs. At the same time, the euro fell 0.1 percent to 1.1438 dollars and rose 0.1 percent to 1.0556 francs. The pound sterling lost 0.1 percent to $ 1.3354.

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