HomeMarket NewsAsia-Pacific Markets Rise as Traders Anticipate Economic Data for Rate Insights

Asia-Pacific Markets Rise as Traders Anticipate Economic Data for Rate Insights

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Japan’s market shows a modest increase of 0.18%. The country’s unemployment rate for July came in at 2.7%, slightly higher than the expected 2.5%.

China’s market gains 1.27%. Investors approach with caution as they await Chinese manufacturing PMI figures later this week, which are anticipated to reaffirm the country’s economic weakness.

Hong Kong’s market surges 2.12%.

India’s market sees a minor rise of 0.09%.

Australia’s market shows a positive movement of 0.53%. The ANZ Roy Morgan weekly consumer confidence for Australia stands at 78.1, slightly lower than the previous figure of 79.0.

The Domestic Supply Price Index in Singapore experiences an 8.9% year-on-year decrease in July 2023, improving from the 14.3% decline in the previous month.

In the US, all three major indexes closed higher on Monday ahead of the release of economic data, with traders seeking insights into the future of interest rates. The S&P closed 0.63% higher at 4,433.28 points, the Nasdaq gained 0.84% to reach 13,705.13 points, and the Dow advanced 0.62% to settle at 34,560.08 points.

Investors are now focused on key US jobs and inflation data, as well as manufacturing PMI figures for both the US and China.

Oil prices remain stable on Tuesday due to supply concerns offsetting demand worries. Brent crude stands at $84.40 a barrel, while US West Texas Intermediate crude trades at $80.07.

Currencies: (Japanese Yen / US Dollar (JPY:USD) Stock Price Today, Quote & News), (Chinese Yuan / US Dollar (CNY:USD) Stock Price Today, Quote & News), (Australian Dollar / US Dollar (AUD:USD) Stock Price Today, Quote & News), (Indian Rupee / US Dollar (INR:USD) Stock Price Today, Quote & News), (Hong Kong Dollar / US Dollar (HKD:USD) Stock Price Today, Quote & News), (New Zealand Dollar / US Dollar (NZD:USD) Stock Price Today, Quote & News).

US stock futures remain steady on Tuesday after a positive session on Monday: Dow shows a small gain of 0.09%; S&P 500 increases by 0.13%; Nasdaq advances by 0.22%.

ETFs to watch: (JEQ), (EWJ), (DXJ), (FXY), (FXI), (KWEB), (CQQQ), (MCHI), (ASHR), (YINN), (TDF), (CHIQ), (GXC), (EWH), (KBA), (YANG), (CXSE), (CAF), (CWEB), (PGJ), (KURE), (CHIX), (CYB).

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Source: Benzinga.com

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