A general view of the Lujiazui financial district within the Pudong district of Shanghai, April 12, 2023.
Hector Retamal | afp | Getty Images
Asia-Pacific markets are largely set to achieve in anticipation of key inflation reports this week, including the US Consumer Price Index because of be released on Wednesday and the Producer Price Index on Thursday.
Across the region, China’s inflation rate and producer prices today will provide more context for the trajectory of the country’s economic recovery. Economists polled by Reuters expect the CPI reading to remain flat after last month’s drop in producer prices.
US Treasury Secretary Janet Yellen concluded a visit to Beijing and said the talks were “direct” and “productive”, putting the bilateral relationship on a “firmer footing”.
In Japan, the so-called Nike 225 expected to rebound barely after falling greater than 1% on Friday, with Chicago futures at 32,510 and Osaka futures at 32,380 from last close at 32,388.42.
Hong Kong’s Hang Seng Index can also be expected to rebound somewhat on Monday, with futures at 18,759 in comparison with the HSI’s last close of 18,365.7.
Nevertheless, Australia S&P/ASX200 is anticipated to fall, with futures on S&P/ASX200 at 7,013, lower than the last close of the index at 7,042.3.
US markets closed lower on Friday amid fears the US Federal Reserve will raise rates of interest this month and all three major indices will fall.
The Labor Department’s June employment report showed that employment rose lower than expected, cooling off since May. Employment within the non-agricultural sector increased by 209,000, and the unemployment rate amounted to three.6%.
The Dow Jones Industrial Average posted the most important loss of 0.55%, while the S&P 500 lost 0.29% and the Nasdaq Composite 0.13%.
— Samantha Subin and Brian Evans of CNBC contributed to this report