Colorful old shophouses in Cross Street, Chinatown.
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Asia-Pacific markets opened mostly higher on Tuesday, following a fluctuating session overnight in the U.S. as investors prepare for key inflation data.
The S&P 500 concluded the day flat at 5,344.39, while the tech-heavy Nasdaq Composite climbed 0.21% to close at 16,780.61, led by shares of Nvidia soaring 4%. On the flipside, the Dow Jones Industrial Average fell 140 points or 0.36% to conclude at 39,357.01.
Traders await Wednesday’s consumer price index for July, a key indicator of the health of the U.S. economy. Investors will analyze the data for indications the Federal Reserve can begin cutting rates in September.
Over in Asia, Japan’s corporate goods price index rose 3% in July from a year earlier, in line with expectations and climbing at a faster pace compared to 2.9% in June. The CGPI measures the price changes of goods traded within the corporate sector.
Singapore reported its economy grew 2.9% in the second quarter from a year ago, in line with the advance gross domestic product estimate released in July. The Ministry of Trade and Industry cited strength in the wholesale trade, finance and insurance as well as the information and communication sectors. The city-state also said it sees 2024 GDP growth of 2% to 3%, versus its previous forecast of 1% to 3%.
Japan’s Nikkei 225 started the trading day 2.2% higher, while the Topix gained 1.8%.
South Korea’s Kospi followed suit, climbing 0.36%, but the the small-cap Kosdaq lost 0.6%.
Australia’s S&P/ASX 200 opened marginally higher.
Hong Kong’s Hang Seng index futures were at 17,144 slightly higher than the HSI’s last close of 17,111.65.
—CNBC’s Brian Evans and Tanaya Macheel contributed to this report.