MELBOURNE, AUSTRALIA – JANUARY 31: People sit at an outdoor table near a cafe in the CBD on January 31, 2023 in Melbourne, Australia. On July 6, 2022 the Australian government lifted all COVID-19 requirements for locals and travelers ending a two-year long restriction period. (Photo by Alexi Rosenfeld/Getty Images)
Alexi Rosenfeld | Getty Images Entertainment | Getty Images
Asia-Pacific markets fell across the board ahead of China’s industrial data and Australia’s August inflation figures due on Wednesday.
Australia’s weighted inflation rate is expected to rise 5.2% year on year in August, a predicted rebound from three straight months of decline.
The Australian S&P/ASX 200 slipped 0.21% in early trade, while Japan’s Nikkei 225 dropped 0.71%, leading losses in Asia while the Topix slid 0.63%.
South Korea’s Kospi was 0.12% lower, but the Kosdaq was marginally above the flatline.
Hong Kong’s Hang Seng index also is set for a positive open, with futures at 17,477, compared to the HSI’s close of 17,466.9.
Overnight in the U.S., all three major indexes saw a sell off after the latest home sales and consumer confidence reports stoked concern over the state of the U.S. economy, with the Dow Jones Industrial Average seeing its worst day since March.
The Dow lost 1.14% and closed below its 200-day moving average for the first time since May. The S&P 500 slipped 1.47%, closing below 4,300 for the first time since June 9, while the Nasdaq Composite pulled back 1.57%.
— CNBC’s Sarah Min and Brian Evans contributed to this report