Inventory strikes, currencies, China inflation information

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 stocks fell early Tuesday after a tech sell-off that weighed on major US indices overnight.

The Japanese Nikkei 225 was down 0.97% while the Topix was down 0.6%. South Korea’s Kospi fell 0.57%.

In Australia, the ASX 200 was down 0.43%.

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 an investor watch list. 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.

Elsewhere in the region, the Southeast Asian countries Malaysia and the Philippines are expected to report first quarter gross domestic product data.

Analysts in a Reuters poll predict that Malaysia’s economy will contract 2% year-on-year from January to March and the Philippine economy will contract 3% over the same period.

Currencies and oil

In the forex market, the US dollar was at 90.238 against a basket of its competitors in early Asian trading.

The Japanese yen changed hands at $ 108.87 per dollar, while the Australian dollar gained 0.11% against the greenback to $ 0.7838.

In the oil markets, US crude oil futures fell 0.06% to $ 64.88 a barrel, while the global benchmark Brent fell 0.1% to $ 68.25 a barrel.

– CNBC’s Thomas Franck contributed to this report.

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