Signage for the Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), displayed outside the bourse in Tokyo, in Tokyo, Japan, on Monday, Oct. 30, 2023. The expansion of Israel’s ground operations in Gaza added more pressure to global markets as investors prepare for a busy week packed with major central bank decisions and a high-stakes announcement of US bond sales. Photographer: Akio Kon/Bloomberg via Getty Images
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Asia-Pacific markets are set for a positive open as more markets return to trade from the Lunar New Year holiday, including South Korea and Singapore.
Japan will release its January corporate goods price index figures later Tuesday. The index is expected to rise 0.1% year-on-year, up from the 0% seen in December, according to a Reuters poll of economists.
The gain would mark the first time the corporate inflation rate has risen since December 2022.
Japan’s Nikkei 225 is set to cross the 37,000 mark, with the futures contract in Chicago at 37,420 and its counterpart in Osaka at 37,470 against the index’s last close of 36,897.
Should the Nikkei sustain its gains and close above this mark, it will reach a 34-year high. It first crossed 37,000 on an intraday basis on Friday.
In Australia, the S&P/ASX 200 started the day down marginally, marking a third straight day of losses.
Markets in China are closed for the week, due to the Lunar New Year holiday. Hong Kong is closed Tuesday, but is set to resume trading Wednesday.
Overnight in the U.S., the Dow Jones Industrial Average rose to a new high on Monday as investors awaited fresh inflation and earnings data. The 30-stock index advanced 0.33% to settle at 38,797.38.
— CNBC’s Lisa Kailai Han contributed to this report.