Asian stock markets are trading in the red on Wednesday, following the broadly negative cues overnight from Wall Street, after data showed U.S. consumer inflation surprisingly accelerated at the fastest pace in thirteen years in June. Traders also remain concerned amid the accelerating infection rates of the highly contagious delta variant of the coronavirus in several parts of the world over the last few weeks. They also await cues from a slew of central bank decisions due this week.
The Australian stock market is slightly higher after treading in the red at open on Wednesday, with the benchmark S&P/ASX 200 above the 7,300 level, ignoring the broadly negative cues overnight from Wall Street, on local data that showed an improvement in consumer confidence. However, traders remain concerned amid the worsening domestic coronavirus situation in New South Wales.
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