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ASX rises; core CPI slows to 3.2pc; Wall St bounces back from DeepSeek impact

Underlying inflation hits lowest number since early 2021. Rate cut expectations brought forward. Aussie shares a sea of green after US rebound. Sigma in trading halt pending shareholder meetings over Chemist Warehouse merger.

David Rogers and Joseph Carbone
less than 2 min read
6:24AMJanuary 29, 2025.
Updated 4:40PMJanuary 29, 2025
The Australian Business Network
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Following DeepSeek's impact on global markets, local investors will be tuning in to fourth-quarter CPI data, to be released on Wednesday. Picture: Max Mason-Hubers
Following DeepSeek's impact on global markets, local investors will be tuning in to fourth-quarter CPI data, to be released on Wednesday. Picture: Max Mason-Hubers

That's all from the Trading Day blog for Wednesday, January 29. The ASX 200 closed up 0.6 per cent at 8447. It hit a two-month high of 8481.6 on lower than expected inflation data and a rebound in US stocks after the shock of DeepSeek.

Cryptocurrency market leader bitcoin is currently trading below $US102,000.

The Aussie dollar is lower, trading around US62.36c after CPI data was released.

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Original URL: https://www.theaustralian.com.au/business/trading-day/asx-to-rise-wall-st-bounces-back-from-deepseek-impact/live-coverage/7215cc7e267e6c10c8134ac971b15845