The Australian market gained after SYDNEY, NSW, Australia shares came under pressure on Thursday.
The US consumer price index was up 7 percent in the past 12 months, the largest increase in nearly four decades, and was stoked overnight by the publication of a report showing the US consumer price index jumping 7 percent in the 12 months to December.
The NikkeiNikkei 225 in Tokyo lost 276.53 points or 0.96 percent to 29,489. The Hang Seng was trading down 69 points in Hong Kong.
The Australian All Ordinaries, going against the trend, advanced 35.30 points or 0.45 percent. This despite Australia's most populated state, New South Wales, recording a record 92,264 Covid 19 cases in the prior 24 hours.
The U.S. dollar continued to be under pressure during the Asian trading zone after major falls in the United States overnight. The euro was steady around 114.41. The British pound was trading at 1.3711 and clinging to its overnight gains. The Swiss franc was well bid at 0.9143.
The Canadian dollar went up to 1.2502. The Dow Jones industrials increased by 38.30 points or 0.11 percent, to close Wednesday at 36,290, overnight on Wall Street. The Nasdaq Composite increased by 34.94 points or 0.23 percent to 15,188. The Standard and Poor's 500 gained 13.28 points or 0.28 percent to 4,726, according to the Standard and Poor's 500.