Australia, Japan and India PMI data

Muslim devotees are breaking their fast and having their meals on the last Friday of the holy fasting month of Ramadan, also known as Jumat-ul-Vida, at the Jama Masjid in the old quarters of New Delhi, India.

Nurphoto | Nurphoto | Getty Images

Asia-Pacific markets are set to extend gains from Monday as tech shares rebounded on Wall Street and investors look toward flash business activity figures from Australia, Japan and India.

Figures from S&P Global show that Australia’s composite purchasing managers index hit a two-year high, coming in at 53.6 against March’s 53.3.

Japan and India’s PMI numbers will be released later Tuesday.

Futures for the S&P/ASX 200 point to a stronger open, at 7,693 compared to the last close of 7,649.2.

Japan’s Nikkei 225 is also set to rise, with the futures contract in Chicago and Osaka both at 37,740 against the index’s last close of 37,438.61.

Futures for Hong Kong’s Hang Seng index stood at 16,681, pointing to a weaker open compared to the HSI’s close of 16,511.69.

Overnight in the U.S., the S&P 500 and Nasdaq Composite both snapped six-day losing streaks, gaining 0.87% and 1.11% respectively, while the Dow Jones Industrial Average climbed 0.67%,

Chipmaker and artificial intelligence favorite Nvidia climbed 4.4%, bouncing from a nearly 14% sell-off last week, its worst since September 2022. Arm Holdings also rebounded nearly 7% on Monday.

U.S. crude prices slipped after Iran said it will not escalate the conflict with Israel. Investors had been concerned higher oil prices could contribute to inflation, leading the Federal Reserve to hold off on cutting rates.

— CNBC’s Brian Evans and Jesse Pound contributed to this report.

Source link