Japan (NKY:IND) -0.40%. Markets now look ahead to domestic inflation data later this week for clues on the path for Bank of Japan monetary policy.
China’s surveyed urban unemployment rate inched up to 5.1% in December 2023 from 5.0% in the previous three months, which was the lowest jobless rate since November 2021.
Markets are less certain on whether the PBOC will ease policy further soon due to renewed depreciation on the yuan, although a deflationary environment and a shaky economic recovery continued to support easing bets.
Hong Kong (HSI) -4.16%.
India (SENSEX) -1.81%.
Australia (AS51) -0.29%.
In the U.S. on Tuesday, all three major indexes ended lower impacted by increasing yields and comments from Federal Reserve Governor Waller, suggesting the Fed may not cut interest rates as aggressively as initially expected.
On Tuesday, Fed Governor Christopher Waller indicated the central bank may not cut rates as aggressively as the market expects, mirroring earlier statements from European Central Bank officials which triggered a recalibration of rate cut expectations.
U.S. stock futures pulled back after the major averages kicked off the holiday-shortened week on a negative note: Dow -0.34%; S&P 500 -0.45%; Nasdaq -0.77%.
Investors now await US retail sales data on Wednesday and fresh remarks from Fed officials this week to better gauge the monetary policy outlook.