China’s largest policy meeting in six years opens this week.
Wang Yukun | Moment | Getty Images
Asia-Pacific markets opened mixed on Tuesday as Asian traders react United States Federal Reserve Chairman Jerome Powell said the central bank We won’t wait until inflation reaches 2% Lower interest rates.
Powell said the central bank was seeking “greater confidence” that inflation would fall to 2%, citing “long and variable lags” in policy effects.
His comments coincided with investors betting on the performance of Republican presidential candidate Donald Trump. assassination attempt failed The gains would be huge for the party, while friendlier fiscal policies pushed the Dow Jones Industrial Average to a new high.
The blue-chip Dow Jones also hit a new intraday high, rising 0.53% to close at 40,211.72 points. Likewise, the S&P 500 rose 0.28% to 5,631.22, while Nasdaq Index It rose 0.4% to close at 18,472.57 points.
Australian S&P/ASX 200 Index It fell 0.17%, pulling back from Monday’s all-time closing high for the index.
Japan’s Nikkei 225 Index Trading will resume after public holidays. Nikkei 225 Index rose 0.36%, and the Topix rose 0.70%.
Japanese stocks TDK Co., Ltd.The Nikkei’s sixth-largest stock by weight rose more than 4%.
Korean Cospi rose 0.12%, while the KOSDAQ index did the opposite, falling 1.56%.
Hong Kong’s Hang Seng Index The CSI 300 index opened down nearly 1%, while the CSI 300 index fell 0.11%.
Following Monday’s weaker-than-expected China GDP printingAmong them, Goldman Sachs lowered its forecast for China’s full-year gross domestic product from 5% to 4.9%, while JP Morgan lowered its forecast from 5.2% to 4.7%.
“This highlights the need for the government to step up policy support in the second half of the year if it wants to ensure growth of around 5% for the whole year,” Shan Hui, chief China economist at Goldman Sachs, told CNBC’s “Squawk Box Asia” on Tuesday, explaining weak domestic demand. Still a big problem.
Investors continue to pay attention to China’s development Third Plenary Session of the CPC Central CommitteeHigh local government debt levels will affect the development of advanced manufacturing agenda.
“This is a potential window for leadership to get more clues about their views on future policy trajectories,” she said.
In addition, Singaporean state investor Temasek announced plans to invest US$10 billion in India within three years for the country’s financial services and healthcare industries. As of March, the company had 7% investments in the South Asian country.
Temasek, which has 19% of its investments in China, said it continued to take a cautious stance due to trade tensions.
—CNBC’s Alex Harring and Yun Li contributed to this report.
