High-rise buildings are seen near Victoria Harbour in Hong Kong, China, July 24, 2023. (Photo by Costfoto/NurPhoto via Getty Images)
Costfoto | Nurphoto | Getty Images
Asia-Pacific markets are set to mostly rise, largely mirroring moves on Wall Street as U.S. stocks saw a Nvidia-fueled tech rally on Tuesday.
Investors will be bracing for Australia’s inflation numbers for July, which are expected to come in at 5.2%, according to a Reuters poll — softer than the 5.4% seen in June. The Australian S&P/ASX 200 climbed 0.61% in early trade.
Japan’s Nikkei 225 is on pace for its third straight day of gains, opening 0.61% up, while the Topix also extended gains and rose 0.56%.
South Korea’s Kospi led gains in the region among major indexes, advancing 0.81%, while the Kosdaq was up 0.98%.
Futures for Hong Kong’s Hang Seng index stood at 18,669, pointing to a stronger open and on pace for its third straight day of gains compared with the HSI’s close of 18,484.03.
Overnight in the U.S., all three major indexes advanced, with the Nasdaq Composite climbing more than 1% as investors flocked back to tech stocks.
The tech-heavy index gained 1.74%, the S&P 500 climbed 1.45% — its best day since June 2, and the Dow Jones Industrial Average added 0.85%.
— CNBC’s Sarah Min and Alex Harring contributed to this report