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Japan (NKY:IND) -0.06%. The Nikkei 225 index fell 1% below 38,500, while the broader Topix index fell 1.3% to 2,630 on Tuesday, hitting its lowest levels in three weeks, with nearly all sectors having participated in the decline.
Producer prices in Japan increased by 0.6% year-on-year in February 2024, faster than the previous month’s 0.2% increase and above market forecasts of 0.5%.
The survey index of large manufacturing companies in Japan fell sharply to -6.7% in the first quarter of 2024 from 5.7% in the previous quarter.
China (SHCOMP) -0.56%.
Hong Kong (HSI) +2.57%.
India (SENSEX) +0.22%.
Australia (AS51) +0.11%. Australian business sentiment softened in February.
Private home approvals in Australia fell on a seasonally adjusted 9.9% month-on-month to 7,461 units in January 2024.
The seasonally adjusted estimate of total homes approved in Australia fell 1% month-on-month to 12,850 units in January 2024.
In the United States on Monday, all three major indexes closed mixed as investors turned cautious ahead of a key U.S. inflation reading that could affect the outlook for the Federal Reserve’s monetary policy. The US CPI is expected to remain warm in February due to rising gasoline prices, but core inflation will likely have slowed further due to moderating auto prices and rent increases.
US stock futures rose Tuesday: Dow +0.17%; S&P500 +0.40%; Nasdaq +0.63%.
The upcoming CPI and PPI report later in the week are among the last major economic reports expected before the Federal Reserve’s March policy meeting.
Currencies: (JPY:USD), (CNY:USD), (AUD:USD), (INR:USD), (HKD:USD), (NZD:USD).