The container was loaded at the PSA port operator, Port of Singapore Authority (PSA), at the Port of Singapore on 14 June 2022.
Bernd von Jutrczenka Image Alliance | Getty Images
Most of the Asia-Pacific market opened higher Tuesday, following a mixed trading session on Wall Street as investors prepared for the Federal Reserve to begin its monetary loosening cycle.
The Fed is expected to announce its first rate cut since March 2022, but markets are divided over the size of the reduction from a two-day policy meeting that begins Tuesday.
US retail sales data will also take center stage as investors monitor the health of consumers during the Fed meeting.
Traders in Asia will also look to Singapore’s non-oil domestic exports for August, which is expected to rise 15% from a year ago, according to analysts polled by Reuters, but decreased 3.3% from the previous month.
Tuesday’s economic data also included India’s wholesale prices for August, which were expected to gain 1.85% year-on-year, a cooler reading than the 2.04% in July.
Chinese appliance maker Midea Group is scheduled to debut in Hong Kong, with a share price of 54.80 Hong Kong dollars, which will be the city’s biggest listing in more than three years.
Some Asian markets will be closed for the Mid-Autumn Festival, namely South Korea, mainland China and Taiwan. Japanese markets will return to trading on Tuesday after being closed for a public holiday on Monday.
Australia’s S&P/ASX 200 opened 0.15% higher.
Japan Nikkei 225 down 0.22%, while Topix little changed.
Futures for Hong Kong Hang Seng Index it is at 17,425, slightly higher than HSI’s last close of 17,422.12.
Overnight in the US, the Dow Jones Industrial Average rose 0.55% to a new record at 41,622.08, tracking gains in S&P 500 which rose 0.13% to settle at 5,633.09. If the momentum continues, the broad-based index could be all new this week.
Meanwhile Nasdaq Composite lost 0.52% to finish at 17,592.13, weighed down by technology stocks.
—CNBC’s Hakyung Kim and Pia Singh contributed to this report.
