Asia markets in red, investors access South Korea’s inflation data; eyes on US jobs report

The Asia-Pacific equity markets were mostly in red on Tuesday, driven by investor reactions to the latest inflation data from South Korea. Traders now await U.S. payroll data, set to be released on Friday, along with domestic data from China, including a fresh set of PMI figures due tomorrow and trade and inflation data expected next week.

The Japan (NKY:IND) +0.03%. The Nikkei 225 Index rose on Tuesday, as the yen retreated to a two-week low.

China (SHCOMP) -0.52%. The Shanghai Composite fell on Tuesday, as concerning mixed PMI data from China fueled expectations for further stimulus measures.

Hong Kong (HSI) -0.49%. Hong Kong's equities were flat in Tuesday morning deals, as gains among tech and consumers countered losses from financials.

India (SENSEX) -0.08%.

Australia (AS51) -0.16%. The S&P/ASX 200 Index fell on Tuesday, reversing gains from the previous session, with heavyweight retailers leading the decline amid a weakening outlook for the sector.

Australia's current account deficit widened to AUD 10.7 billion in Q2 of 2024 from an upwardly revised deficit of AUD 6.3 billion in Q1, worse than market expectations of an AUD 5.9 billion gap.

Traders now await Australia’s second quarter GDP numbers on Wednesday and Reserve Bank of Australia Governor Michele Bullock’s latest comments on Thursday for fresh insights on the monetary policy path.

South Korea’s Kospi added 0.2% to 2,687.14 after a report showed consumer inflation slowed in August to the weakest in more than three years, supporting expectations of an easing of monetary policy.

Markets in the U.S. were closed on Monday due to the Labor Day holiday.

U.S. stock futures index moved lower following Monday's break, ahead of the August jobs report later this week: Dow -0.22%; S&P 500 -0.19%; Nasdaq -0.37%.

Currencies: (JPY:USD), (CNY:USD), (AUD:USD), (INR:USD), (HKD:USD), (NZD:USD).

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