Stocks becalmed before potential CPI storm

Agencies | Singapore

The Daily Tribune – www.newsofbahrain.com

Asian stocks hovered below seven months highs on Thursday, as investors waited to see whether U.S. data will confirm inflation is in retreat, while the yen rose with a report Japan will next week review the side-effects of its ultra-easy policy.

Japan's Nikkei was steady, as were S&P 500 futures.

European futures rose 0.4%. Bonds held overnight gains and the U.S. dollar was pinned near a seven-month low at $1.0769 per euro, Reuters reported.

Along with hopes for gentler central banks in the west, investors are also banking on a recovery in China to help global growth and are eyeing a potential policy shift in Japan.

The Bank of Japan stunned markets last month by widening the band around its 10-year bond yield target, a move that triggered a sudden rise in yields and a jump in the yen.