Reflections from pedestrians on an electronic stock indicator on the window of an investment firm in Tokyo, Japan.
Toshifumi Kitamura | AFP | Getty Images
SINGAPORE – Asia Pacific markets face a cautious open Tuesday after technology stocks weighed on major US indices overnight.
Stock futures pegged to Japan’s Nikkei 225 indicated opening losses for the benchmark after Monday’s session rose 0.55%. In Australia, SPI 200 futures also indicated a cautious start for the ASX 200, which closed 1.3% higher on Monday.
US markets fell overnight as investors left big tech stocks like Microsoft and Apple. The Nasdaq Composite suffered the largest loss, down 2.5%.
China’s April inflation data will be on investor watch lists in the upcoming Asian trading session. Analysts polled by Reuters believe that Chinese consumer prices rose 1% yoy last month and accelerated from 0.4% in March.
China is also expected to publish the results of its once in a decade census.
In other parts of the region, first quarter gross domestic product data is due to be released in the Philippines. Analysts in a Reuters poll assume that the Southeast Asian economy will shrink by 3% year-on-year from January to March.
Currencies and oil
In the forex market, the US dollar was at 90.212 against a basket of its competitors in early Asian trading.
The Japanese yen changed hands at 108.82 per dollar while the Australian dollar was roughly unchanged at $ 0.7835.
In the oil markets, US crude oil futures fell 0.05% to $ 64.89 a barrel, while the global benchmark Brent was at $ 68.32 a barrel.
– CNBC’s Thomas Franck contributed to this report.
