In Asia, we also saw a big rise in the Chinese and Hong Kong markets, after which investors in Europe waited for the American labor market and inflation data in the afternoon. In the afternoon, the higher-than-expected inflation data caused a negative market reaction in both Europe and the US, as it reinforced the narrative that the interest rate cut cycle may be slower than previously expected. Today, however, important inflation data arrived not only abroad, but also in Hungary: the price increase looking back one year was 3 percent, i.e. it reached the central bank target after three and a half years. On Thursday, the Western European stock markets fell moderately, while the Hungarian stock market outperformed and rose moderately. Oil prices rose sharply as investors priced in the possible effects of the Israel-Iran conflict and Hurricane Milton.
Source: www.portfolio.hu
