Share indices in Asia-Pacific region were trading lower in early trade on Thursday, taking cues from overnight losses on Wall Street as market participants await for U.S. Personal Consumption Expenditure and China’s PMI data.
The Nikkei 225 was trading 173.48 points or 0.44% lower at 39,034.55, and the S&P ASX 200 was trading 3.10 points or 0.04% down at 7,657.30.
US PCE index, Federal Reserve’s preferred inflation gauge, is scheduled for release later today, which will provide clues for the central bank’s monetary policy going ahead.
China’s official PMI reading is due to be released on Friday, which will provide further insight into the economy struggling to reel out of the pandemic’s effect.
The S&P 500 Index and Nasdaq Composite fell by 0.17% and 0.55%, respectively on Wednesday. The Dow Jones Industrial Average fell by 0.06%.
Brent crude was trading 0.04% higher at $83.63 a barrel. Gold was flat at 2,034.07 an ounce.
The GIFT Nifty was trading 60.5 points or 0.28% lower at 21,893.00 as of 6:30 a.m.
India’s benchmark equity indices closed over 1% lower on Wednesday as Reliance Industries Ltd. and bank stocks dragged the most.
The NSE Nifty 50 ended 247.20 points or 1.11%, down at 21,951.15 and the S&P BSE Sensex closed 790.34 points or 1.08%, lower at 72,304.88.
Overseas investors remained net sellers of Indian equities on Wednesday for the third consecutive session.
Foreign portfolio investors offloaded stocks worth Rs 1,879.2 crore; domestic institutional investors remained buyers and bought equities worth Rs 1,827.4 crore, the NSE data showed.
The Indian rupee weakened by 3 paise to close at 82.93 against the U.S. dollar.
