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Japan (NKY:IND) -0.97%. Japan Jibun/S&P Global Services PMI 54.1 (preliminary was 54.9, previous 52.9).
China (SHCOMP) -0.19%. China Caixin Services PMI for March 52.7 (expected 52.7, previous 52.5)
Hong Kong (HSI) -1.08%.
India (SENSEX) +0.05%.
Australia (AS51) -1.34%. The Ai Group sector index for the Australian manufacturing sector improved by 5.6 points but remains in contraction at -7 points in March 2024.
Traders digested Tuesday’s remarks from Reserve Bank assistant governor Christopher Kent that the central bank will move to a new monetary policy system as passive quantitative tightening leads to a decline in reserves in the banking system.
This morning, market participants continued to follow news of the strongest earthquake in Taiwan in 25 years. Authorities reported that no fewer than 56 people were injured and that around 26 buildings collapsed. Meanwhile, a tsunami warning was issued shortly after the shock but was lifted.
In the United States, all three major indexes closed in the red on Tuesday due to uncertainty over the path of US interest rates following the release of strong economic data.
US stock futures moved slightly lower on Wednesday following Wall Street’s slump on Tuesday as strong US economic data pushed Treasury yields higher and fueled speculation about a delayed rate cut by the Fed: Dow -0.14%; S&P500 -0.14%; Nasdaq -0.25%.
Traders are anticipating key US economic indicators due later this week, including the jobs report, JOLTS and the ISM Services PMI. Meanwhile, Fed Chair Powell will speak on Wednesday, following his remarks last Friday in which he indicated it would not be appropriate to lower rates until officials were confident inflation was under control.
Currencies: (JPY:USD), (CNY:USD), (AUD:USD), (INR:USD), (HKD:USD), (NZD:USD).