The Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), in Tokyo, Japan, on Friday, Feb. 16, 2024. Kosuke Okahara/Bloomberg via Getty Images
Bloomberg | Bloomberg | Getty Images
Asia-Pacific stock markets were mostly lower Wednesday as New Zealand’s central bank kept its interest rate steady, while investors awaited key U.S. inflation and China data later this week.
China’s manufacturing purchasing managers’ index reading and U.S. personal consumption expenditures price index — the Federal Reserve’s preferred inflation gauge — is due Thursday.
The Reserve Bank of New Zealand held its official cash rate at 5.50%, keeping it at a 15-year high, while warning that inflation remained well above its target range.
Also on the radar was Hong Kong’s budget announcement, which will be watched for any new updates that could boost its property markets and attract more foreign investments.
Australia’s S&P/ASX 200 dipped 0.1%, while New Zealand’s benchmark S&P/NZX 50 index rose 0.3% higher after the RBNZ decision.
Japan’s Nikkei 225 dipped 0.2% and the broader Topix fell 0.3%. The Nikkei 225 had hit a record high earlier in the week.
South Korea’s Kospi rose 0.4%, while the smaller-cap Kosdaq added 1.4%.
Hong Kong’s Hang Seng index dipped 0.2%, while the CSI 300 index also fell 0.2%.
The S&P 500 and the Nasdaq Composite ended Tuesday with small gains as investors awaited key inflation data to be released later this week.
The S&P 500 inched up 0.17%, while the Nasdaq added 0.37%. The Dow Jones Industrial Average fell 96.82 points, or 0.25%.
— CNBC’s Hakyung Kim and Alex Harring contributed to this report
Source link: https://www.cnbc.com/2024/02/28/asia-markets-.html