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Japan (NKY:IND) +0.47%. Japan data – Jibun Bank Services PMI (final for February) 52.9 (prior 53.1).
Tokyo’s core inflation rate, a leading indicator of nationwide price trends, accelerated to 2.5% in February from 1.8% in January and went back above the central bank’s 2% target.
China (SHCOMP) +0.28%. China stocks hit over three-month highs Tuesday after the country set its economic growth target at “around 5%” for 2024 during its “Two Sessions” meeting, in line with expectations.
China February Services PMI 52.5 (prior 52.7).
Investors now await more updates from the ongoing “Two Sessions” meetings for signs of clear and concrete policy plans.
Hong Kong (HSI) -2.67%. The S&P Global Hong Kong SAR PMI inched lower to 49.7 in February 2024 from 49.9 a month earlier.
India (SENSEX) -0.35%. The HSBC India Services PMI was revised lower to 60.6 in February 2024 from 62.0 in the preliminary estimates and after January’s six-month high of 61.8.
Australia (AS51) -0.15%. Australian services PMI for February (final) comes in at 52.1 (prior 49.1).
Australia data – Q4 2023 Current account balance smashes higher than estimates.
In the U.S. on Monday, all three major indexes ended lower while Treasury yields on the other hand caught a bid higher.
U.S. stock futures edged lower on Tuesday following a weak session on Wall Street overnight pressured sentiment, amid caution ahead of testimony from Fed Chair Powell before the US Congress: Dow -0.21%; S&P 500 -0.27%; Nasdaq -0.54%.
Investors look forward to more US economic data and Federal Reserve commentary this week to better guide the interest rate outlook.
Currencies: (JPY:USD), (CNY:USD), (AUD:USD), (INR:USD), (HKD:USD), (NZD:USD).
