Reflections from pedestrians on an electronic stock indicator on the window of an investment firm in Tokyo, Japan.
Toshifumi Kitamura | AFP | Getty Images
SINGAPORE – Asia Pacific stocks fell early Tuesday after a tech sell-off that weighed on major US indices overnight.
The Japanese Nikkei 225 was down 0.97% while the Topix was down 0.6%. South Korea’s Kospi fell 0.57%.
In Australia, the ASX 200 was down 0.43%.
US markets fell overnight as investors left big tech stocks like Microsoft and Apple. The Nasdaq Composite suffered the largest loss, down 2.5%.
China’s April inflation data will be an investor watch list. Analysts polled by Reuters believe that Chinese consumer prices rose 1% yoy last month and accelerated from 0.4% in March.
China is also expected to publish the results of its once in a decade census.
Elsewhere in the region, the Southeast Asian countries Malaysia and the Philippines are expected to report first quarter gross domestic product data.
Analysts in a Reuters poll predict that Malaysia’s economy will contract 2% year-on-year from January to March and the Philippine economy will contract 3% over the same period.
Currencies and oil
In the forex market, the US dollar was at 90.238 against a basket of its competitors in early Asian trading.
The Japanese yen changed hands at $ 108.87 per dollar, while the Australian dollar gained 0.11% against the greenback to $ 0.7838.
In the oil markets, US crude oil futures fell 0.06% to $ 64.88 a barrel, while the global benchmark Brent fell 0.1% to $ 68.25 a barrel.
– CNBC’s Thomas Franck contributed to this report.
Comments are closed.