General view of the financial district of Lujiazui in Pudong district in Shanghai on April 12, 2023.
Hector Retamal | Afp | Getty Images
Asia-Pacific markets are set to largely rise ahead of key inflation reports this week, including the U.S. consumer price index report due Wednesday and the producer price index on Thursday.
In the region, China’s inflation rate and producer prices later today will provide more context to the country’s recovery trajectory. Economists polled by Reuters expect the CPI reading to remain unchanged after producer prices plunged last month.
U.S. Treasury Secretary Janet Yellen concluded her visit to Beijing, and said that the talks were “direct” and “productive,” putting bilateral ties on “surer footing.”
In Japan, the Nikkei 225 is set for a slight rebound after dipping more than 1% on Friday, with the futures contract in Chicago at 32,510, and its counterpart in Osaka at 32,380 against its last close at 32,388.42.
Hong Kong’s Hang Seng index also is set to regain some ground on Monday, with futures at 18,759 compared to the HSI’s last close of 18,365.7.
However, Australia’s S&P/ASX 200 is set to fall, with futures for the S&P/ASX 200 at 7,013, lower than the index’s last close of 7,042.3.
On Friday, U.S. markets closed lower on fears that the U.S. Federal Reserve will hike rates this month, with all three major indexes falling.
The Labor Department’s June jobs report showed payrolls increased less than expected, cooling down from May. Nonfarm payrolls rose by 209,000, while the unemployment rate came in at 3.6%.
The Dow Jones Industrial Average saw the largest loss of 0.55%, while the S&P 500 shed 0.29% and the Nasdaq Composite shed 0.13%.
— CNBC’s Samantha Subin and Brian Evans contributed to this report
