On February 27, 2024, a customer was shopping in a supermarket in Tokyo.
Kazuhiro Nogi | AFP | Getty Images
Asia-Pacific markets opened lower on Friday as investors awaited a speech by Federal Reserve Chairman Jerome Powell at Jackson Hole.
In the past, Powell has outlined a wide range of policy initiatives and provided clues about Jackson Hole’s policy path.
In Asia, data comes from Japan Showing the country’s overall inflation rate is 2.8% In July, it was the same as last month.
Core inflation, which excludes fresh food prices, was 2.7%, in line with expectations of economists polled by Reuters and up from 2.6% in June.
However, the so-called “core-core” inflation rate tracked by the Bank of Japan, which excludes fresh food and energy prices, fell to 1.9% in July from 2.2% in June.
This is the lowest level of “core-to-core” inflation since September 2022.
Japanese Nikkei 225 Index After the announcement of CPI, the futures market opened strongly, with the Chicago futures contract at 38,225 and the Osaka futures contract at 38,170, compared with the previous closing price of 38,211.01.
Australia’s S&P/ASX 200 index futures were at 7,955 points, slightly lower than the previous closing point of 8,027 points.
Hongkong Hang Seng Index The futures index was at 17,490 points, lower than the Hang Seng Index’s last closing point of 17,641 points.
Overnight in the United States, the Nasdaq index, which is dominated by technology stocks, fell the most among the three major indexes, down 1.67%. Technology stocks bore the brunt of Thursday’s decline.
Broadly speaking S&P 500 Index It fell 0.89%, and the Dow Jones Industrial Average closed down 0.43%.
—CNBC’s Alex Harring and Pia Singh contributed to this report.
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