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China’s Shenzhen stocks jump more than 1% as Asia-Pacific markets rise

SINGAPORE — Shares in Asia-Pacific rose in Thursday trade, as investors looked ahead to an upcoming release of U.S. inflation data for May.

The Shenzhen component in mainland China jumped 1.299% by the afternoon, while the Shanghai composite gained 0.82%. Hong Kong’s Hang Seng index rose 0.3%.

In Japan, the Nikkei 225 was 0.37% higher while the Topix index sat above the flatline. South Korea’s Kospi advanced 0.57%.

Shares in Australia nudged higher, with the S&P/ASX 200 up 0.57%.

MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 0.57%.

U.S. inflation data ahead

Overnight stateside, the Dow dropped 152.68 points to 34,447.14 — its third straight day of losses — while the S&P 500 slipped 0.18% to 4,219.55. The Nasdaq Composite declined roughly 0.1% to 13,911.75.

Those moves came ahead of U.S. consumer inflation data. The U.S. consumer price index for May, set to be reported at 8:30 a.m. ET Thursday, is expected to show headline inflation at 4.7% — the fastest pace since 2008.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 90.186 after recently bouncing from below the 90 level.

The Japanese yen traded at 109.56 per dollar, weaker than levels around 109.2 against the greenback seen earlier this week. The Australian dollar changed hands at $0.773, having seen a recent drop from about $0.776.

Oil prices were lower in the afternoon of Asia trading hours, with international benchmark Brent crude futures down 0.72% to $71.70 per barrel. U.S. crude futures shed 0.73% to $69.45 per barrel.

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