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SHANGHAI, CHINA – MARCH 7, 2023 – The Oriental Pearl Tower, Shanghai Tower, Jinmao Tower and World Financial Center are seen on Lujiazui Street, Shanghai, China, March 7, 2023.
Future Publishing | Future Publishing | Getty Images
Asia-Pacific markets are set for a cautious open after Wall Street saw a tech rally as U.S. consumer price index rose less than expected for April.
The consumer price index showed a reading of 4.9%, slightly less than the 5% gain anticipated by economists polled by Dow Jones. Month-over-month, inflation matched expectations with a 0.4% increase.
Asian investors will be closely watching the inflation print from China for April as well later Thursday, forecasted to come in at 0.3%, according to a Reuters poll.
In Australia, futures for the S&P/ASX 200 point to a lower open, standing at 7,250 compared to the index’s last close at 7,255.7.
In Japan, the Nikkei futures contract in Chicago was at 29,055, while its counterpart in Osaka was at 29,050 against the Nikkei 225’s last close at 29,112.18.
Futures tied to Hong Kong’s Hang Seng index stood at 19,725, lower than the HSI’s last close of 19,762.
Overnight in the U.S., the Nasdaq Composite added 1.04% as investors fled to technology stocks on the tamer-than-expected inflation report, while the the S&P 500 advanced 0.45%. The Dow Jones Industrial Average inched downward by 0.09%.
— CNBC’s Brian Evans and Samantha Subin contributed to this report
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