business

Asian stocks mixed, China gains ahead of U.S. price data

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By ELAINE KURTENBACH

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Figures for the U.S. are in, showing the annual inflation rate in the US slowed to 8.3% in April from a 41-year high of 8.5% in March, but less than market forecasts of 8.1%.

The energy index rose 30.3% and the food index increased 9.4%, the largest 12-month increase since the period ending April 1981.

On a monthly basis, consumer prices were up 0.3%, slightly more than expectations of 0.2% but below a 16-year high of 1.2% in March. The index for gasoline fell 6.1%, offsetting increases in the indexes for natural gas and electricity.

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Other news out today is from the MoF, showing foreign exchange reserves in Japan decreased to $1,322,193 million in April 2022, down from $1,356,100 million in the previous month. All time high in 1957 = $1,424,284. Total reserve assets were: foreign currency reserves ($1,195,415 million), IMF reserve position ($10,283 million), SDRs ($60,364 million), gold ($51,985 million) and other reserve assets ($4,146 million).

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