Asia markets fall as investors await key U.S., China economic data


An investor watching share prices at the securities trading floor of Asia Commercial Bank in Hanoi, Vietnam.

Hoang Dinh Nam | AFP | Getty Images

Asia-Pacific stocks fell Thursday as investors awaited U.S. personal consumption expenditures price index data for clues on the Federal Reserve’s interest rate path.

The U.S. personal consumption expenditures price index — the Fed’s preferred inflation gauge — is due later in the day, while China’s manufacturing purchasing managers’ index reading is scheduled to be released Friday.

Futures for Hong Kong’s Hang Seng index stood at 16,564, pointing to a marginally higher open compared to the HSI’s close of 16,536.85 .

Hong Kong on Wednesday said it would do away with property curbs in an effort to buoy its real estate sector and forecast economic growth in a range of 2.5% to 3.5% for 2024.

Separately, Walt Disney and Indian conglomerate Reliance will merge their Indian businesses. The combined entity was valued at roughly $8.5 billion on a post-money basis, excluding synergies. 

Japan’s Nikkei 225 fell 0.7% at open, while the Topix declined 0.3%. The Nikkei 225 had hit a record high earlier in the week.

South Korea’s Kospi opened down 0.8%, while the small cap Kosdaq shed 0.6%.

In Australia, the S&P/ASX 200 fell 0.2%.

U.S. stock markets slid Wednesday as investors awaited the Fed’s preferred inflation report.

The S&P 500 fell 0.17%, while the Nasdaq Composite fell 0.55%. The Dow Jones Industrial Average shed 23.39 points, or 0.06% to clock a third straight day of losses.

— CNBC’s Hakyung Kim and Brian Evans contributed to this report.

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