Uncertainty regarding the Bank of Japan has kept sentiment towards Asian markets weak, as have ongoing doubts about the Chinese economic recovery. The CSI 300 and Shanghai Composite indices in China edged slightly lower on Tuesday but remained close to their four-month highs reached on Monday.
However, the gains in the Chinese markets have slowed in recent sessions amid continuous skepticism about the country’s economic recovery. Beijing has offered scant signals of additional stimulus measures, and the technology stocks’ gains supported the Hang Seng Index in Hong Kong, advancing by 0.6%, although it largely remained within a limited range.
Markets are also awaiting the U.S. Consumer Price Index and any signals about interest rate cuts, while the Australian ASX 200 index remained within a narrow range on Tuesday.
Investors remain largely tense ahead of the release of the key U.S. Consumer Price Index data scheduled for later on Tuesday, expected to take into account the Federal Reserve’s plans for interest rate cuts in 2024.
U.S. stock futures were moderately positive in Asian trade after a mixed session on Wall Street.
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Shady Fouad is a technical analyst at LDN Company
Shady's strategic vision in the currency markets is reinforced by more than fifteen years of trading experience, which enables him to blend economic and technical analyzes with high efficiency, and find the best investment ideas for traders.
