Beautiful and colorful aerial view of Mumbai skyline during twilight seen from Currey Road, on February 16, 2022 in Mumbai, India.
Pratik Chorge | Hindustan Times | Getty Images
Asia-Pacific markets were mixed ahead of key inflation data out of India and 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 slid 1.16%, while the Topix was down 0.87%. 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.
South Korea’s Kospi fell 0.15% lower, while the Kosdaq saw a smaller loss of 0.07% as the country saw its unemployment rate climb slightly to 2.6% in June.
Hong Kong’s Hang Seng index opened 1% up, while mainland Chinese indexes were all in negative territory. The Shanghai Composite fell 0.2%, while the Shenzhen Component was down marginally.
Australia’s S&P/ASX 200 gained 0.47%, leading benchmark indexes in the region.
Overnight in the U.S., all three major indexes advanced higher, with the Dow Jones Industrial Average gaining the most at 0.93%. The tech-focused Nasdaq Composite climbed 0.55% and the S&P 500 gained 0.67%.
— CNBC’s Sarah Min and Alex Harring contributed to this report