Cafe in Royal Arcade, Bourke Street Shopping Centre, Melbourne, Australia.
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Asia-Pacific markets were mostly lower on Monday, ahead of inflation data from Australia and Japan later this week.
Reserve Bank of Australia Governor Michelle Bullock revealed that Wednesday will pay special attention to Australia’s May consumer price index data Central bank discusses raising interest rates at its last meeting.
If inflation is higher than expected and spurs the Reserve Bank of Australia to raise interest rates, then in an environment where investors are waiting for a rate cut, the Reserve Bank of Australia will become the first major Asia-Pacific central bank besides Japan to take interest rate hike measures.
The RBA needs to consider inflation data on June 26 and July 31 before its next meeting on August 6.
Australia’s S&P/ASX 200 index fell 0.61%.
Japan’s Nikkei 225 Index It rose 0.19%, while the Topix gained 0.3%, Asia’s only major benchmark index rising.
On Monday, the Bank of Japan Revealed that raising interest rates is being discussed during the June monetary policy meeting. However, the central bank stated that “any changes in policy interest rates can only be considered after economic indicators confirm that, for example, the CPI inflation rate has clearly begun to rebound and medium- and long-term inflation expectations have increased.”
It was reported last week that Bank of Japan Governor Kazuo Ueda tell congress The central bank may raise interest rates as soon as possible at its July meeting.
South Korea’s Kospi fell 0.72% and the small-cap Kosdaq fell 1%.
Hongkong Hang Seng Index The CSI 300 Index fell 0.87%, and the CSI 300 Index fell 0.64%.
The S&P 500 fell on Friday as shares of market leader Nvidia retreated for a second straight day.
Nvidia Shares fell 3.2%. The stock hit a record high on Thursday before closing down more than 3%.
Overall, the S&P fell 0.16% and the Nasdaq fell 0.18%. The Dow Jones Industrial Average edged up 0.04%.
“Tech stocks continue to be in the spotlight,” said Emily Rowland, co-chief investment strategist at John Hancock Investment Management. “I can’t remember a time when a single stock…had such a big impact on the market. influence, which has indeed been a key driver of recent market movements.”
—CNBC’s Samantha Subin and Hakyung Kim contributed to this report.
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