Asian markets open lower after major US indexes decline
Asian markets open lower after major US indexes decline; India braces for Hyundai debut, Asia-Pacific markets fell on Tuesday, following a mixed session on Wall Street.Australia’s S&P/ASX 200 started the day down 1.2%, while South Korea’s Kospi fell 0.82% and the small-cap Kosdaq dropped 1.40%. In contrast, Japan’s benchmark Nikkei 225 index edged higher, while the Topix traded near the flatline.
Futures on Hong Kong’s Hang Seng index were at 20,386, indicating a weaker open compared with the HSI’s last close of 20,478.46. Investors in Asia will have a bright day in terms of economic data. However, they will be closely watching Hyundai India’s 278.56 billion rupee ($3.3 billion) debut on the country’s stock exchange, reportedly the country’s largest IPO ever.
During the U.S. trading session, two Federal Reserve officials spoke about the trajectory of interest rates. Minneapolis Fed President Neel Kashkari, who noted the resilient U.S. economy and strong labor market, said the longer-term trajectory for interest rates could be higher than in the past.
Dallas Federal Reserve President Lorie Logan said she supports the current move to lower rates, but a patient approach will be needed.
Source: CNBC
