KURE - Asia-Pacific markets mostly lower as US inflation test looms

2023-09-13 02:37:24 ET

Japan -0.21% . Japan August PPI +0.3% m/m (expected +0.1%).

The business survey index of large manufacturing firms in Japan jumped to 5.4% in the third quarter of 2023 from -0.4% in the second quarter.

The Reuters Tankan sentiment index for manufacturers in Japan fell sharply to +4 in September 2023 from a one-year high of +12 in August.

China -0.84% .

Hong Kong -0.30% .

India +0.15% .

Australia -0.73%.

New Zealand data - Food Price Index (August) +0.5% m/m (prior -0.5%).

The seasonally adjusted unemployment rate in South Korea fell to a record low of 2.4% in August 2023, down from 2.8% in the previous month.

South Korea's export prices dropped 7.9% from a year earlier in August 2023, after a 12.8% decline in the previous month.

Import Prices in South Korea declined by 9% year-on-year in August 2023, easing a downwardly revised 13.6% drop in the previous month.

In the U.S. on Tuesday, all three major indexes ended lower , as investors cautiously awaited a key US inflation reading that could influence the Federal Reserve’s next policy steps. The Nasdaq Composite fell 1.04% to close at 13,773.61 points. The benchmark S&P 500 slipped 0.57% to settle at 4,462.03 points, while the blue-chip Dow retreated 0.05% to finish at 34,647.44 points.

The European Central Bank also expects inflation in the Eurozone to remain above 3% next year, supporting the case for another rate increase on Thursday.

Market participants also await China's economic data, New Zealand's top trading partner, including industrial output, retail sales, and unemployment rate Friday.

Oil prices edged higher on Wednesday on supply concerns. The international benchmark Brent futures LCOc1 rose 8 cents, or 0.1%, to $92.14 a barrel by 0054 GMT, while U.S. West Texas Intermediate crude climbed 14 cents, or 0.2%, to $88.98 a barrel.

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 dropped modestly following a downbeat session on Wall Street overnight: Dow -0.13% ; S&P 500 -0.11% ; Nasdaq -0.08% .

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

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