Top World News

Asia markets poised to fall as investors await key U.S., China economic data

An investor watching share prices at the securities trading floor of Asia Commercial Bank in Hanoi, Vietnam.

Hoang Dinh Nam | AFP | Getty Images

Asia-Pacific stocks were set to decline Thursday as investors awaited U.S. personal consumption expenditures price index data for clues on the Federal Reserve’s interest rate cut path.

The U.S. personal consumption expenditures price index — the Federal Reserve’s preferred inflation gauge — is due later in the day, while China’s manufacturing purchasing managers’ index reading is scheduled to be released Friday.

Futures for Hong Kong’s Hang Seng index stood at 16,564, pointing to a marginally higher open compared to the HSI’s close of 16,536.85 .

Hong Kong on Wednesday said it would do away with property curbs in an effort to buoy its real estate sector and forecast economic growth in a range of 2.5% to 3.5% for 2024.

Separately, Walt Disney and Indian conglomerate Reliance will merge their Indian businesses. The combined entity was valued at roughly $8.5 billion on a post-money basis, excluding synergies. 

Japan’s Nikkei 225 is set to dip, with the futures contract in Chicago at 39,020 and its counterpart in Osaka at 39,030 against the index’s last close of 39,208.03.

In Australia, the S&P/ASX 200 fell 0.2%.

U.S. stock markets slid Wednesday as investors awaited the Fed’s preferred inflation report.

The S&P 500 fell 0.17%, while the Nasdaq Composite fell 0.55%. The Dow Jones Industrial Average shed 23.39 points, or 0.06% to clock a third straight day of losses.

— CNBC’s Hakyung Kim and Brian Evans contributed to this report.

Leave a Reply

Your email address will not be published. Required fields are marked *