Asian stocks displayed mixed performance following weak US services data, creating uncertainty about the Federal Reserve’s policy. Investors are anxious about the Fed’s next move, as economic data complicates balancing inflation control and sustaining growth. Chinese markets will be in focus amid trade deal hopes.
US inflation tops 4% for first time in three years, keeping Fed hike in play
US inflation climbed to 4.1% in May, driven by rising energy prices, keeping the Federal Reserve’s interest rate hike plans on the table for September.