Asian markets mixed with Chinese shares rising ahead of key economic data.

From CNBC TV18: 2024-07-09 21:09:56

Stocks in Australia and Japan dropped on Wednesday, while Chinese futures indicated potential gains after US equities hit new highs. The S&P 500 rose for a sixth straight session, with the Nasdaq 100 also reaching a fresh record. Fed Chair Powell hinted at a possible rate cut, citing signs of a cooling job market.

Japanese banks urge the Bank of Japan to make substantial cuts to its bond purchases amid market discussions. The Reserve Bank of New Zealand is expected to maintain interest rates. Chinese consumer and producer prices data will be closely watched. Bond traders prepare for China to push back on low yields.

Concerns rise as China Vanke Co. reports significant losses in the second quarter. Focus shifts to US jobless claims and speeches from Fed officials on Thursday, followed by China trade data and US consumer sentiment on Friday. Markets remain attentive to potential policy changes in response to economic indicators.



Read more at CNBC TV18: Asian markets mixed, Chinese shares rise ahead of key economic data