Summary: Asia-Pacific markets are poised to experience a decline as investors await the release of Australia’s central bank minutes and assess New Zealand’s inflation data. New Zealand’s inflation rate dropped to a two-year low of 5.6% in the third quarter. The Reserve Bank of Australia’s minutes will provide insight into the decision to keep benchmark lending rates unchanged for the fourth consecutive month. In the US, all major indexes experienced gains, with the Dow Jones Industrial Average registering its best day since September.
Asia-Pacific markets are expected to face a decline as investors eagerly await the release of the Reserve Bank of Australia’s minutes and evaluate New Zealand’s latest inflation data. New Zealand’s inflation rate has fallen to its lowest level in two years, with a reading of 5.6% in the third quarter, down from 6% in the previous quarter.
The minutes from the Reserve Bank of Australia’s recent monetary policy meeting will shed light on the central bank’s reasoning behind maintaining its benchmark lending rates at 4.1%, which has remained unchanged for four months in a row.
In early trade, Australia’s S&P/ASX 200 is up by 0.76%. Japan’s Nikkei 225 is also set to rebound, with futures pointing to a positive open. However, futures for Hong Kong’s Hang Seng index indicate a weaker start compared to the previous close.
In the US, all three major indexes, namely the Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite, recorded gains. The Dow Jones Industrial Average experienced a significant rise of 0.93%, marking its best day since September. The S&P 500 climbed 1.06%, while the Nasdaq Composite added 1.2% to its value.
Tags: Asia-Pacific markets, Australia Central Bank, New Zealand inflation, US stock market