Asia-Pacific markets were mixed ahead of key inflation data out of the U.S on Wednesday.
Economists expect the U.S. inflation rate for June to fall slightly to 5%, down from 5.3% in May, based on a Reuters poll. The inflation print, along with producer prices data on Thursday, will give clues to the Federal Reserve’s path for rate hikes.
In Japan, the Nikkei 225 fell 259.64 points, or 0.8%, to 31,943.93, the first time in over a month that it finished lower than 32,000 points.
The country saw wholesale inflation slow to its lowest pace in six months, with the corporate goods price index rising just 4.1% year on year, official data showed.
In Hong Kong, the Hang Seng recovered 201.12 points, or 1.1%, to 18,860.95.
Korean markets moved slightly ahead as the country saw its unemployment rate climb slightly to 2.6% in June.
Australian markets showed gains. Reserve Bank of Australia governor Philip Lowe said that while the bank has held interest rates steady at 4.1% at its last meeting, “it is possible that some further tightening will be required to return inflation to target within a reasonable timeframe.”
In a speech, he noted any further action on the RBA’s part “will depend on how the economy and inflation [situation] evolve.”
In other markets
The CSI 300 subtracted 26.05 points, or 0.7%, to 3,843.44.
In Singapore, the Straits Times Index gained 11.52 points, or 0.4%, to 3,175.36.
In Korea, the Kospi Index added 63.12 points, or 0.4%, to 2,574.72.
In Taiwan, the Taiex index revived 63.12 points, or 0.4%, to 16,962.03.
In New Zealand, the NZX 50 dipped 1.54 points to 11,908.27.
In Australia, ASX 200 moved upward 26.82 points, or 0.4%, to 7,135.67.
