A cycler walks past the entrance to the Tokyo Stock Exchange (TSE) headquarters building in Tokyo’s Nihonbashi area on May 2, 2024.
Richard A. Brooks | Afp | Getty Images
Japan Nikkei 225 tumbled over 3% on Friday, when Australian shares reached fresh highs ahead of key economic data from China and Japan.
The country will release retail sales data for August, with a Reuters poll expecting a rise of 2.3% year-on-year, down from 2.7%. The broad-based Topix experienced a small loss of 2.67%.
Separately, China will release official purchasing managers’ index numbers for September, with economists polled by Reuters expecting the manufacturing PMI to come in at 49.5, a softer contraction compared to August’s 49.1.
The Caixin PMI survey, which is a private survey compiled by S&P Global, will also be released on Monday.
Australia’s S&P/ASX 200 rose 0.56%, breaching an all-time high of 8,246.2.
South Korea Kospi was 0.13% up and small cap Kosdaq rose marginally.
Hong Kong’s Hang Seng index futures are at 20,910, lower than the HSI’s last close of 20,632.30.
Overnight in the US, the Dow Jones Industrial Average climbed to new highs on Friday as traders evaluated new data that showed more progress on inflation.
The 30-share Dow added 0.33%, ending at 42,313.00. The S&P 500 fell 0.13%, while the Nasdaq Composite lost 0.39%.
It came as traders settled on encouraging August inflation data, which saw the personal consumption expenditure price index – the Federal Reserve’s preferred measure of inflation – increase 0.1%, in line with the expectations of economists polled by Dow Jones.
PCE rose at an annual pace of 2.2%, below forecasts of 2.3%.
—CNBC’s Brian Evans and Pia Singh contributed to this report.
