Japanese equities continue to lag amid ongoing speculation surrounding the Bank of Japan (BOJ). The Nikkei pared its drop following comments from BOJ Gov Ueda, while US CPI data due later today adds to market anticipation.

Here’s a roundup of key developments:

  • The Nikkei 225 opened down by 0.9% at 38,470, with Nikkei 225 futures in Singapore opening lower by 275 points at 38,280. Ueda’s remarks highlighted weakness in consuming nondurable goods, with a cautious approach towards monetary policy decisions.
  • The ASX 200 opened up by 0.1% in Australia at 7,707. Business confidence remained steady, and the Reserve Bank of Australia (RBA) Assistant Gov Hunter noted that recent inflation data aligns with forecasts.
  • China’s Hang Seng rose by 0.7% at 16,701, while the Shanghai Composite opened flat at 3,068. China’s financial regulator is reportedly considering lowering the down payment ratio for cars, and the country is testing an AI assistant for neurosurgeons.
  • The US Steelworkers Union plans to file a USTR petition on China’s practices, while BYD will likely fail to achieve its overseas sales target in 2024.
  • South Korea’s Kospi opened up by 0.5% at 2,673, with chipmakers halting old equipment sales due to concerns of US backlash.

Overall, the market remains cautious, with attention on the US CPI data release and ongoing developments in various Asian markets.

Market levels as of 01:20 ET show mixed trends, with slight gains in S&P 500 Futures and Nasdaq 100, while currencies like EUR, JPY, AUD, and NZD show relatively stable trading. Gold and crude oil prices fluctuate slightly, while copper slightly declines.

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