- Equities in Asia-Pacific region remain sluggish amid cautious sentiment.
- China’s PPI jumps the most since 2008, Sino-American tension escalates.
- Traders await US CPI, ECB for fresh impulse, limbo over US stimulus talks, Brexit gain a little attention.
- South Korean statistics came in strong, mixed data from Australia, New Zealand.
Shares in Asia remain subdued during early Wednesday as market players brace for the key data/events, scheduled for publishing on Thursday. Also challenging the moves could be a lack of strong catalysts at home. Above all, the inaction of the US Treasury yields could be traced as the key factor to offer sluggish markets.
Amid these plays, MSCI’s index of Asia-Pacific shares outside Japan drops 0.20% whereas Japan’s Nikkei 225 track the losses with a 0.30% downside to 28,887.50 by the press time of the pre-European session.
Shares in China print mild gains after the nation’s factory-gate inflation gauge, PPI, rallied the most since 2008. Following that, policymakers from the dragon nation look set to tame the foreign trades to battle the reflation woes.
Australian markets dwindle amid mixed data and cautious optimism of RBA policymaker Christopher Kent, as well as Aussie Treasurer Josh Frydenberg. Further, New Zealand equities followed their Oz counterpart as left without major directions.
South Korea’s KOSPI fails to cheer upbeat GDP and employment data while marking 0.70% intraday loss. However, Indonesia’s IDX Composite prints 0.15% intraday gains on welcome prints of Consumer Confidence.
Elsewhere, Indian equities are mildly bid amid hopes of further stimulus from the government as well as receding covid woes.
Looking forward, a light calendar and wait for the week’s key events could keep the markets sluggish. However, chatters concerning US-China tussles and stimulus, not to forget the virus and vaccine updates, could offer intermediate moves.
Also read: Wall Street Close: Traders’ indecision leads to another sluggish day
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