S&P crosses 5,500, Japan CPI

Pedestrians cross an intersection in the Shibuya district of Tokyo, Japan, on Tuesday, April 25, 2023. Photographer: Kentaro Takahashi/Bloomberg via Getty Images

Bloomberg | Bloomberg | Getty Images

Asia-Pacific markets are set to open lower after the S&P 500 retreated from its record above the 5,500 level on Thursday.

Investors in the region will assess Japan’s inflation data for May after the headline rate rose to 2.8%, higher than April’s figure of 2.5%.

The core inflation rate — which strips out prices of fresh food — came in lower than expected at 2.5%. A Reuters poll of economists expected the May core inflation reading to come in at 2.6%, compared to April’s 2.2%.

Futures for Australia’s S&P/ASX 200 stood at 7,766, slightly lower than its last close of 7,7690.4.

Japan’s Nikkei 225 futures were mixed, with the futures contract in Chicago at 38,675 and its counterpart in Osaka at 38,600 compared to the previous close of 38,633.

Hong Kong Hang Seng index futures were at 18,202, lower than the HSI’s last close of 18,335.32.

Overnight in the U.S., the S&P 500 closed 0.25 % lower after hitting a new high. The Nasdaq Composite dipped 0.79%, while the Dow Jones Industrial Average climbed 0.77%. Chipmaker Nvidia slipped 3.5% after rising earlier in the trading day.

—CNBC’s Samantha Subin and Brian Evans contributed to this report.

You might also like

Comments are closed.