[ad_1]
China’s economy grew 4.5% in the first quarter of 2023, beating expectations.
Steven Han | Moment | Getty Images
Asia-Pacific markets are set to fall as Wall Street considered the likelihood of Congress passing a tentative deal on raising the U.S. debt ceiling amid growing opposition within the GOP on the tentative deal that House Speaker Kevin McCarthy and U.S. President Joe Biden agreed over the weekend.
Asia will also see a slew of economic data out on Wednesday, including China’s May manufacturing activity figures. Australia will publish its seasonally adjusted April inflation figures, and a rate decision from Thailand’s central bank, among others.
In Japan, the Nikkei 225 looks to retreat from its 33-year high, with the futures contract in Chicago at 31,095, and its counterpart in Osaka at 31,120 against its last close at 31,328.160.
In Australia, futures for the S&P/ASX 200 were at 7,187, lower than the index’s last close of 7,209.3, ahead of its unemployment figures for April. Economists polled by Reuters expect the country’s weighted inflation rate in April to slow slightly to 6.4%.
Hong Kong’s Hang Seng index is set to fall further despite a late rally in Tuesday session, with futures at 18,260 compared to the HSI’s close of 18,595.78.
Overnight in the U.S., all three major indexes ended mixed, with the Dow Jones Industrial Average losing 0.15% and the Nasdaq Composite adding 0.32%. Meanwhile, the S&P 500 eked out a marginal gain, after trading both above and below the flatline during the session.
— CNBC’s Brian Evans and Alex Harring contributed to this report
[ad_2]
