Asia markets rise, South Korea stocks pop ahead of U.S. CPI report

A man looks at an electronic quotation board displaying stock prices on the Tokyo Stock Exchange in Tokyo on August 2, 2022.Kazuhiro Nogi | AFP | Getty ImagesAsia-Pacific markets were higher on Tuesday as investors look ahead to the U.S. inflation report for the month of August.The Nikkei 225 in Japan gained 0.29%, and the Topix index ticked 0.27% higher. In Australia, the S&P/ASX 200 rose 0.38%.South Korea’s Kospi rose 2.14% on its return to trade after a holiday Monday, and the Kosdaq jumped 2.09%.Mainland China’s Shanghai Composite advanced 0.23%, while the Shenzhen Component added 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 gained 0.51%.Headline inflation in the U.S. is expected to decline in August, according to a Dow Jones survey. But core inflation, excluding energy and food, is projected to rise. Headline CPI is expected to come in at 8%, compared with 8.5% in July.— CNBC’s Jesse Pound, Carmen Reinicke and Patti Domm contributed to this report.

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