Chachamaru
Asia-Pacific stock markets fell on Wednesday as investors cautiously waited for Nvidia’s earnings report, a key event for the AI industry. Markets also reacted to data showing Australia’s monthly CPI reading for July beat expectations.
Japan (NKY:IND) -0.02%The Nikkei average fell on Wednesday, with the yen trading around 144 yen to the dollar, near a three-week high.
In addition, Bank of Japan Deputy Governor Ryozo Himino said the bank would adjust the level of monetary easing if its economic and price outlooks come true.
China (SHCOMP) -0.47%Uncertainty about the Chinese economy continued to pressure domestic stocks, with the Shanghai Composite Index falling 0.3% on Wednesday.
Meanwhile, signs of tension between China and the West grew after Canada announced it would follow the US and EU in imposing 100% tariffs on Chinese-made EV imports and 25% tariffs on steel and aluminium.
Hong Kong (HSI) -0.94%Hong Kong’s stock index fell at the open on Wednesday, ending gains from the previous two trading days as all sectors fell.
India (SENSEX) -0.06%.
Australia (AS51) -0.29%The S&P/ASX 200 index fell on Wednesday, its second consecutive trading day of declines, as better-than-expected monthly inflation data reinforced a more hawkish outlook for the Reserve Bank of Australia’s monetary policy.
Total construction work in Australia in the second quarter of 2024 increased 0.1% quarter-on-quarter to A$64.93 billion, below market expectations of a 0.7% increase.
In the US, all three major indexes ended higher on Tuesday as investors awaited Nvidia’s earnings report and Friday’s PCE index.
US stock futures slump: Dow +0.03%; S&P 500 -0.01%; Nasdaq -0.16%.
Markets are focused on a series of economic data this week, including the PCE index, the Fed’s preferred inflation measure, and second estimates of second-quarter GDP.
currency: (JPY:USD), (CNY:USD), (AUD:USD), (INR:USD), (HKD:USD), (NZD:USD).
