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Asian markets are mostly set to fall ahead of Japan’s June inflation data.

Mount Fuji and Tokyo skyline, Japan.

Jackyenjoy Photography | moment Getty Images

Asia-Pacific markets are set to fall mostly on Friday as investors look to Japan’s consumer price index data for June. The country’s inflation rate is expected to come in at 3.3 percent, according to economists polled by Reuters.

That’s slightly higher than May’s 3% figure, and well above the Bank of Japan’s 2% target. The inflation print will signal the Bank of Japan’s moves when it meets next week for its rate decision.

Governor Kazuo Ueda said this on Wednesday. In a Reuters report That “there is still some way to go to sustainably and sustainably achieve the central bank’s 2% inflation target,” suggests that the BOJ’s ultra-loose monetary policy may be on hold for the time being.

gave Nikki 225 The futures contract in Chicago is set to end the week at 32,310, compared with the last close at 32,360 and its counterpart in Osaka at 32,490.52.

In Australia, for the future S&P/ASX 200 were at 7,282, lower than the index’s last close of 7,325.

In contrast, Hong Kong’s Hang Seng index looks set to open higher, with futures at 18,935, compared to the HSI’s last close of 18,928.02.

Overnight in the US, the Dow Jones Industrial Average rose for a ninth straight day after drugmaker Johnson & Johnson reported better-than-expected earnings results. It was the Dow’s best daily winning streak since 2017.

Nevertheless, the broader market suffered after post revenue fell in favor of traders Netflix And Tesla. The S&P 500 fell 0.68% and the Nasdaq Composite fell 2.05%.

– CNBC’s Hakyung Kim and Brian Evans contributed to this report.


Source by [CNBC News]



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