In This Article:
* Easing global lockdowns spur demand for Chinese goods
* U.S. inflation expected at 4.9% in June
* German Bund yields hover near 3-month lows
* Global asset performance http://tmsnrt.rs/2yaDPgn (Updates with European trading, pricing, quotes)
By Tom Arnold and Julie Zhu
LONDON/HONG KONG, July 13 (Reuters) - Global shares pushed to a record high on Tuesday, buoyed by better than expected Chinese export data as markets awaited the release of U.S. inflation data for further clues about the global economic recovery.
The surprisingly strong Chinese data implied that global demand remained strong and helped reassure investors that the world economy was healing from the COVID-19 pandemic, despite the spread of the Delta variant.
Focus now shifts to the release of U.S. consumer price data, expected to tick marginally lower from last month, and likely to further feed debate about when U.S. stimulus may be scaled down.
MSCI's all-country equity index added 0.1%, having touched a record high earlier in the day. The pan-European STOXX 600 index slipped 0.2% after hitting a record high in early trading.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 1%, its best daily gain since late June, led by a 1.6% rise in Hong Kong where tech stocks rose broadly. Japan's Nikkei was up 0.5% while Australian shares slipped 0.02%.
A Reuters poll shows expectations for Tuesday's inflation data to come in at 4.9% for the month of June when the numbers are released at 1230 GMT, compared to 5% the month before.
"Today will be one of the last numbers that are of strong inflation because of the base effect and from then we should have confirmation that inflation will be transitory," said Francois Savary, chief investment officer at Swiss wealth manager Prime Partners. "Inflation will remain a key feature for markets as it will drive interest rates."
Investors are navigating a busy week, with the onset of U.S. earnings season and a testimony by Federal Reserve Chair Jerome Powell, which will also be scrutinised for any indications on the timing of potential U.S. tapering.
In Hong Kong, tech behemoth Tencent Holdings Ltd jumped 4.4% after China's antitrust regulator on Tuesday approved its plan to take the country's No.3 search engine Sogou Inc private in a $3.5 billion deal.
"We have clearly seen a (new) round of corrections of the technology sector which places a heavy weight on Hong Kong's stock market, due to concerns over a new round of regulatory crackdown following the probe into Didi. Against this backdrop, there is room for short-term rebound," said Zhang Zihua, chief investment officer at Beijing Yunyi Asset Management.