Wall Street, China inflation data, coronavirus

Markets in Asia-Pacific declined Wednesday morning after shares on Wall Street tumbled overnight stateside.

In Japan, the Nikkei 225 dropped 1.22% in early trade while the Topix index fell 1.35%. South Korea’s Kospi also slipped 1.03%.

Over in Australia, the S&P/ASX 200 shed 0.95%.

Overall, the MSCI Asia ex-Japan traded 0.36% lower.

The moves regionally came as Investors reacted to overnight declines on Wall Street. The Nasdaq Composite dropped 4.1% to close at 10,847.69. Tuesday’s drop put the tech-heavy Nasdaq down 10% over the past three days. The Dow Jones Industrial Average plunged 632.42 points, or 2.3%, to end its trading day at 27,500.89. The S&P 500 slid 2.8% to close at 3,331.84.

On the economic data front, Chinese inflation data for August is expected, with the consumer price index and producer price index for that month set to be out at around 9:30 a.m. HK/SIN on Wednesday.

Meanwhile, AstraZeneca said a late-stage trial of its Covid-19 vaccine candidate has been put on hold due to safety concerns. That came following a suspected serious adverse reaction in a participant in the United Kingdom, according to STAT News.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 93.536 following its rise earlier this week from levels below 93.0.

The Japanese yen traded at 105.95 per dollar after an earlier high of 105.82 against the greenback. The Australian dollar changed hands at $0.7212 after falling from levels above $0.726 yesterday.

Oil prices were lower in the morning of Asian trading hours, with international benchmark Brent crude futures down 0.23% to $39.69 per barrel. U.S. crude futures also shed 0.35% to $36.63 per barrel.

Here’s a look at what’s on tap:

  • China: Consumer price index and producer price index for August at 9:30 a.m. HK/SIN

Read More: Wall Street, China inflation data, coronavirus

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