A cafe in the Royal Arcade, Bourke Street Mall, in Melbourne, Australia.
Educational Image | Universal Image Group | Getty Images
Asia-Pacific markets fell on Monday, ahead of inflation data from Australia and Japan this week.
Special attention will be paid to Australia’s consumer price index figures on Wednesday, after Reserve Bank of Australia Governor Michelle Bullock announced the central bank discussed hiking rates at its last meeting.
If inflation comes in higher than expected and spurs the RBA to raise rates, it will be the first major Asia-Pacific central bank to do so in an environment where investors are waiting for rate cuts, barring Japan.
The RBA has two inflation readings to consider – June 26 and July 31 – before its next meeting on August 6.
Australia’s S&P/ASX 200 fell 0.19%.
Japan Nikkei 225 down 0.19%, while the Topix was 0.24% higher, the only major benchmark in Asia in positive territory.
South Korea’s Kospi fell 0.39%, and the small-cap Kosdaq fell 0.54%.
Hong Kong Hang Seng Index futures were at 17,968, lower than HSI’s last close of 18,028.52.
On Friday in the US, the S&P 500 checked lower as bellwether Nvidia shares retreated for a second day.
Nvidia shares fell 3.2%. On Thursday, the stock hit an all-time high before closing more than 3% lower.
Overall, the S&P fell 0.16%, while the Nasdaq Composite fell 0.18%. The Dow Jones Industrial Average rose 0.04%.
“Tech stocks continue to be in the spotlight,” said Emily Roland, chief investment strategist at John Hancock Investment Management. “I can’t remember a time when one stock … has been so influential in the market, and that’s really been the key driver of market action in the end.”
— CNBC’s Samantha Subin and Hakyung Kim contributed to this report.
