KURE - Asia-Pacific markets mixed after US inflation data fails to alter views for a Fed pause

2023-09-14 02:37:29 ET

Japan +1.41% . Industrial production in Japan declined by 1.8% month-over-month in July 2023, compared with flash data of a 2.0% fall and after a final 2.4% growth in the previous month.

Japan data - July Machinery Orders -1.1% m/m (expected -0.9%).

China -0.16% .

Hong Kong +0.11% .

India -0.01% . India's moderating inflation rate to 6.83% in August from July's 15-month low of 7.44% also lifted sentiment.

Market participants were cautious ahead of India's wholesale prices later today, with analysts expecting them to continue to decline for the fifth straight month despite being at a softer rate.

Australia +0.46%. Australia August Jobs +64.9K (vs. +25K expected) & Jobless rate 3.7% (vs. 3.7% exp).

Australian Consumer Inflation Expectations for September: 4.6% (vs. prior 4.9%).

Singapore’s seasonally adjusted unemployment rate was confirmed at 1.9% in Q2 of 2023, slightly up from 1.9% in the previous period which was the lowest figure in 8 years.

In the U.S. on Wednesday, all three major indexes ended mixed . The tech-heavy Nasdaq Composite closed 0.29% higher at 13,813.59 points. The benchmark S&P 500 added 0.13% to settle at 4,467.48 points, while the blue-chip Dow slipped 0.20% to finish at 34,575.70 points.

Traders were also cautious as the European Central Bank will announce its monetary policy decision later today after stronger-than-expected inflation data in the US. Meantime, Friday will witness a number of Chinese economic data, among others, new home prices, retail sales, and industrial output.

Currencies: ( Japanese Yen / US Dollar ( JPY:USD )), ( Chinese Yuan / US Dollar ( CNY:USD )), ( Australian Dollar / US Dollar ( AUD:USD )), ( Indian Rupee / US Dollar ( INR:USD )), ( Hong Kong Dollar / US Dollar ( HKD:USD )), ( New Zealand Dollar / US Dollar ( NZD:USD )).

U.S. stock futures edged higher on Thursday as investors look ahead to the August producer price index report to guide the economic and interest rate outlooks further: Dow +0.17%; S&P 500 +0.25%; Nasdaq +0.41%.

ETFs: ( JEQ ), ( EWJ ), ( DXJ ), ( FXY ), ( FXI ), ( KWEB ), ( CQQQ ), ( MCHI ), ( ASHR ), ( YINN ), ( TDF ), ( CHIQ ), ( GXC ), ( EWH ), ( KBA ), ( YANG ), ( CXSE ), ( CAF ), ( CWEB ), ( PGJ ), ( KURE ), ( CHIX ), ( CYB ).

More on the markets

• The Fed's rate-hike cycle has 'most assuredly ended' -- Lawrence Fuller
• Nasdaq, S&P, Dow end mixed after core consumer inflation ticks up for first time since Feb
• What The Fed Is Poised To Do After August 2023 CPI Report
• Inflation Should No Longer Be A Concern For Investors

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