A cafe at the Royal Arcade, Bourke Street Mall, in Melbourne, Australia.
Educational images | Universal Image Group | beautiful images
Asia-Pacific markets fell on Monday, ahead of inflation data from Australia and Japan later this week.
Particular attention will be paid to Australia’s May consumer price index figures on Wednesday, after Reserve Bank of Australia Governor Michelle Bullock revealed Central banks discuss raising interest rates at its last meeting.
If inflation picks up higher than expected and prompts the RBA to raise interest rates, it will be the first major central bank in Asia-Pacific to do so in an environment where investors are waiting for the interest rate cuts, except Japan.
The RBA has two inflation readings to consider – June 26 and July 31 – before its next meeting on August 6.
of Australia S&P/ASX 200 decreased by 0.19%.
Japanese Nikkei 225 was down 0.19%, while Topix was 0.24% higher, the only major benchmark in Asia in positive territory.
South Korea’s Kospi fell 0.39% and small-cap Kosdaq was 0.54% lower.
Hong Kong Hang Seng Index Futures were at 17,968, below HSI’s most recent close of 18,028.52.
On Friday in America, S&P 500 lower mark like bellwether market shares Nvidia back to the second day.
Nvidia shares fell 3.2%. On Thursday, shares hit an all-time high before closing 3% lower.
Overall, the S&P fell 0.16%, while Nasdaq composite decreased by 0.18%. The Dow Jones Industrial Average increased by 0.04%.
“Tech stocks continue to gain traction,” said Emily Roland, co-investment strategist at John Hancock Investment Management. “I can’t remember a time when a single stock… has had such a huge impact on the market and it’s really been the main driver of the market performance thus far.”
—CNBC’s Samantha Subin and Hakyung Kim contributed to this report.
