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Asia-Pacific stock markets were mostly in the red on Tuesday, driven by investor reactions to the latest inflation data from South Korea. Traders are now awaiting U.S. payrolls data, due on Friday, along with local data from China, including a fresh set of purchasing managers’ indices. The figures are expected to be released tomorrow, with trade and inflation data due next week.
Japan (NKY:IND) +0.03%The Nikkei 225 index rose on Tuesday, as the yen fell to a two-week low.
China (SHCOMP) -0.52%The Shanghai Composite Index fell on Tuesday, as worrying mixed PMI data from China fueled expectations for more stimulus measures.
Hong Kong (HSI) -0.49%Hong Kong stocks were steady in early trading Tuesday, as gains among technology and consumer companies offset losses from financial companies.
India (Sensex Index) -0.08%.
Australia (AS51) -0.16%The S&P/ASX 200 index fell on Tuesday, reversing gains from the previous session, as retail heavyweights led the decline amid a weak outlook for the sector.
Australia’s current account deficit widened to A$10.7 billion in the second quarter of 2024 from an upwardly revised A$6.3 billion deficit in the first quarter, worse than market expectations of a gap of A$5.9 billion.
Traders are now awaiting Australian Q2 GDP figures on Wednesday and the latest comments from Reserve Bank of Australia Governor Michelle Bullock on Thursday for fresh insights on the path of monetary policy.
South Korea’s Kospi Index 0.2% added The U.S. consumer price index rose to 2,687.14 after a report showed consumer inflation slowed in August to its weakest level in more than three years, supporting expectations of monetary policy easing.
Markets in the United States were closed on Monday for the Labor Day holiday.
U.S. stock futures fell after a break on Monday, ahead of the August jobs report later this week: Dow -0.22%; S&P 500 -0.19%Nasdaq -0.37%.
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