Australia

Australian shares are set to open lower, after a day of modest rises on Wall Street.

ASX futures were down 0.1% or 4 points as of 8:30am on Thursday, suggesting a lower open.

U.S. stocks rose Wednesday, building on the previous session's blockbuster rally sparked by subdued inflation data.

Major indexes were all up, DJIA rose 0.5% to 34,991.21, S&P 500 increased 0.2% to 4,502.88, and Nasdaq Composite was up 0.1% to 14,103.84.

Treasury yields rose but remain lower than they were before Tuesday's softer-than-expected US inflation data, which sparked a sharp decline.

In commodity markets, Brent crude oil fell 0.1% to US$82.47 a barrel while gold rose 0.8% to US$1,962.97.

In local bond markets, the yield on Australian 2 Year government bonds was unchanged at 4.34% while the 10 Year yield was down at 4.66%. US Treasury notes fell, with the 2 Year yield at 4.83% and the 10 Year yield at 4.45%.

The Australian dollar hit 65.06 US cents up from the previous close of 65.04. The Wall Street Journal Dollar Index, which tracks the US dollar against 16 other currencies, was up at 99.10.

Asia

Chinese shares closed higher, tracking gains among regional peers after Wall Street's lead overnight. Analysts expect Beijing to step up support through both fiscal and monetary means after China's mixed October activity data as housing slump deepens and financial risks linger. Auto and insurance stocks led the gains. BYD and Great Wall Motor each rose 0.4%. China Life Insurance jumped 3.2% and Ping An Insurance added 1.8%. Software stocks lost broadly, with Beijing Kingsoft Office Software down 0.5% and Shanghai Baosight Software shedding 0.8%. The benchmark Shanghai Composite Index rose 0.55% at 3072.83, the Shenzhen Composite Index was 0.7% higher and the tech-heavy ChiNext Price Index gained 0.5%.

Hong Kong's benchmark index breached the 18000 level and posted its biggest one-day gain since July, buoyed by regional bullishness following overnight gains on Wall Street on softer-than-expected U.S. inflation. Investors also took in positive retail sales data in China, and now turn their attention to tech earnings and the Biden-Xi meeting in the U.S. CNBM rose 7.5%, JD.com gained 6.4%, Wuxi Biologics added 6.1% and China Life Insurance rose 6.0%. The Hang Seng Index closed 3.9% higher at18079.00, while the Hang Seng Tech Index added 4.4% to 4125.87.

Japanese stocks ended higher, led by gains in electronics stocks, as slowing U.S. inflation raised hopes that the Fed is done with rate increases. Terumo gained 11% and Advantest climbs 7.5%. The Nikkei Stock Average rose 2.5% to 33519.70. The 10-year Japanese government bond yield fell 5.5 basis points to 0.795%. Investors are focusing on economic data and the war in the Middle East.

India's Sensex rose 1.1% to close at 65675.93, tracking gains across regional equity markets, which were spurred by softer-than-expected U.S. inflation figures released overnight. The data will be welcomed by the Fed and markets, Nomura analyst Chetan Seth says in a research report. The recent relief rally in Asian stock markets has gotten yet another extension, the analyst adds. Gains on the benchmark index were broad-based, with Tech Mahindra rising 3.8%, Tata Motors adding 2.8% and Infosys 2.7% higher.

Europe

European stocks closed higher, with the pan-European Stoxx 600 index up 0.4% at 454.52, as a raft of recent weaker data—including U.S. inflation data on Tuesday and U.K. inflation and U.S. PPI figures on Wednesday—suggest that interest rates have peaked. "Investors continue to rejoice in the hope of no more Fed rate hikes," writes Chris Beauchamp, chief market analyst at IG. "Overall the skies have cleared dramatically for markets, and hopes of a soft landing and improved earnings have driven flows back into stocks." Germany's Dax closed up 0.9% and France's CAC 40 ended up 0.3%.

The FTSE 100 index closed Wednesday up 0.6% to 7486 points, extending yesterday's advance and in line with global markets, as positive U.K. inflation data lifted the banking sector, IG chief market analyst Chris Beauchamp says in a note. "While bank stocks will have to get used to a world without a steady rise in interest income, the prospect of easing pressures on the U.K. economy continues to support bank stocks," he adds. Experian led the blue-chip index, with shares closing up 7.5%, after the credit-reporting agency backed its guidance following a profit rise in the first half. Ocado shares also outperformed, up 5.6%, after the group said it will provide warehouse technology to healthcare provider and pharmaceutical distributor McKesson Canada.

North America

U.S. stocks rose Wednesday, building on the previous session's blockbuster rally sparked by subdued inflation data.

Major indexes were all up, DJIA rose 0.5% to 34,991.21, S&P 500 increased 0.2% at 4,502.88, and Nasdaq Composite was up 0.1% at 14,103.84.

Treasury yields rose but remain lower than they were before Tuesday's softer-than-expected US inflation data, which sparked a sharp decline. Wednesday's PPI and retail-sales figures supported the view that the economy is slowing and no more interest-rate increases will come, although the possibility of a hard landing still looms.

Walt Disney Co.'s stock (DIS) rose 3.6% Wednesday, after CNBC reported that ValueAct Capital has been building a stake in the company since the summer. The activist investor has held talks with Disney management and is still building out its position, CNBC reported. ValueAct has waged campaigns at other tech companies, including Salesforce Inc. (CRM), Microsoft Corp. (MSFT) and Adobe Inc. (ADBE).