HomeGlob NewsAsia-Pacific markets fall as investors further digest economic data

Asia-Pacific markets fall as investors further digest economic data

Aerial view by drone of Tokyo Cityscape with Tokyo Sky Tree visible in Tokyo city, Japan on sunrise.

pongnathee kluaythong | Moment | Getty Images

Asia-Pacific markets are set to open mixed on Wednesday as investors look ahead to key economic data across the region.

Japan’s Nikkei 225 fell 0.7% as investors further digested the nation’s producer price index that rose 1.6% on an annualized basis. The Topix fell 0.6%. In South Korea, the Kospi fell 1% and the Kosdaq also fell 1.2%

The S&P/ASX 200 fell 0.74% lower as Australia awaits the release of its wage price index in for the fourth quarter of 2022. Economists expect it to come in at 3.5% in the fourth quarter on an annualized basis , according to a Reuters poll.

In New Zealand, the S&P/NZX 50 Index fell 0.64%, ahead of the central bank’s interest rate hike decision. Economists polled by Reuters expect a hike of 50 basis points, bringing the lending rate to 4.75%.

Hong Kong’s budget will be delivered later today by financial secretary Paul Chan, which also will include its GDP figures for 2022.

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