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Asia Markets Brace for Lower Open as US Futures Flat
28 Nov
Summary
- Asia-Pacific markets are expected to open slightly lower.
- Tokyo's headline inflation for October decreased to 2.7%.
- India's GDP for its fiscal second quarter is keenly awaited.
Asian markets are anticipated to begin Friday's trading session with a slight downturn. This follows a flat performance in U.S. stock futures during the Thanksgiving Day holiday, which has also put the Nasdaq Composite on track to potentially end a seven-month period of gains.
Investors across Asia will closely scrutinize significant economic indicators emerging from the region. A key focus will be Tokyo's latest inflation data, which often serves as a leading indicator for national inflation trends. India's Gross Domestic Product figures for its fiscal second quarter, concluding in September, are also due for release later on Friday.
In October, Tokyo's headline inflation experienced a marginal decrease, settling at 2.7% compared to 2.8% in the preceding month. However, the core inflation rate, which excludes fresh food prices but includes energy costs, rose slightly to 2.8%, exceeding the 2.7% forecast by economists polled by Reuters.
