European Stocks Rose As Investors Monitor Inflation Data

European stocks rose on Tuesday as investors waited for the subsequent U.S. inflation reading on Wednesday. They also monitor comments from the U.S. Federal Reserve.

The pan-European Stoxx 600 added 1% by noon, mostly recouping the 1.3% decline by Monday’s close. Tech stocks gained 2.3% to lead gains as most sec and major bouses entered positive territory.

When it comes to individual share price movement, Swedish cloud computing firm Sinch advanced 8.5%. It added 8.5% after Goldman Sachs initiated coverage of the company’s stock with a “buy” rating.

Stocks in Asia-Pacific

On Tuesday, stocks in Asia-Pacific mostly declined as investors remain concerned about inflation and likely policy tightening from central banks such as the Federal Reserve.

In Japan, the Nikkei 225 dropped 0.9% to end its trading day at 28,222.48. The Topix index declined 0.44% to close at 1,986.82.  On Monday, the Japanese market was closed for a public holiday.

In South Korea, the Kospi wavered between gains and losses before finishing near flat at 2,927.38. The Kosdaq dropped 1.07% to 969.92.

In Hong Kong, the Hang Seng index declined to 23,739.06.

Mainland Chinese stocks fell on Tuesday. The Shenzhen component declined 1.27% to 14,223.35. The Shanghai composite fell 0.73% to finish its trading day at 3,567.44. 

Elsewhere, the ASX 200 in Australia dropped 0.77% to 7,390.1 The heavily weighted financials subindex fell 0.99% as Australia’s major banking names sold off amid growing expectations that the Federal Reserve might raise rates quicker than previously anticipated. Shares of Commonwealth Bank of Australia fell 1.51% and ANZ declined 1.3%. 

U.S. stocks were mixed on Monday. The Dow Jones Industrial Average and the S&P 500 suffered losses on Monday. Still, the Nasdaq Composite finished fractionally higher in regular trading.