A screen displays the Nikkei 225 Stock Average figure on the trading floor at the Nomura Securities Co. headquarters in Tokyo, Japan, on Jan. 11, 2024.
Bloomberg | Bloomberg | Getty Images
Asia-Pacific markets are set to open mixed on Tuesday, after U.S. Big Tech stocks sold off in favor of other sectors such as banking and energy.
Tech darling Nvidia dropped 6.68% on Monday and was one of the biggest contributors to the Nasdaq’s losses. Information technology was the S&P 500’s biggest declining sector for the day, falling more than 2%.
Investors in Asia will assess South Korea’s consumer sentiment index for June, as well as Japan’s service sector producer prices.
Consumer confidence in South Korea increased in June, with the index rising to 100.9, as compared to 98.4 in May. This comes amid growing optimism on current living standards and future household income, as well as domestic economic conditions.
Futures for Australia’s S&P/ASX 200 stood at 7,761, higher than the index’s last close of 7,733.7.
Japan’s Nikkei 225 futures pointed to a weaker open for the market, with the futures contract in Chicago at 38,795 and its counterpart in Osaka at 38,710 compared to the previous close of 38,804.65.
Hong Kong Hang Seng index futures were at 18,045, higher than the HSI’s last close of 18,027.71.
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Sheila Chiang,Lim Hui Jie
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