China’s biggest policy meeting in six years kicks will kick off this week.
Wang Yukun | Moment | Getty Images
Asia-Pacific markets are set to open mixed on Tuesday as traders in Asia are expected to react to Federal Reserve Chair Jerome Powell’s comments that the central bank will not wait until inflation hits 2% to cut interest rates.
Powell indicated that central bank is looking for “greater confidence” that inflation will drop to the 2% level, citing “long and variable lags” in policy effects.
His comments combined with investors betting that Republican presidential candidate Donald Trump’s failed assassination attempt will lead to big gains for the party and friendlier fiscal policies pushed the Dow Jones Industrial Average to close at fresh highs.
The blue-chip Dow also reached a new intraday high, advancing 0.53% to close at 40,211.72. Similarly, The S&P 500 added 0.28% to 5,631.22, while the Nasdaq Composite gained 0.4% to end at 18,472.57.
Futures for Australia’s S&P/ASX 200 stood at 7,998, slightly lower and retreating from the index’s all-time high of 8,017.6.
Japan’s Nikkei 225 will resume trading after a public holiday, with futures pointed to a stronger open. The futures contract in Chicago at 41,260 and its counterpart in Osaka at 41,180 compared to the previous close of 41,190.68.
Hong Kong’s Hang Seng index futures were at 17,880, lower than the HSI’s last close of 18,015.94.
Investors continue to look for developments from China’s Third Plenum, where high local government debt levels and a push for advanced manufacturing will be on the agenda.
—CNBC’s Alex Harring and Yun Li contributed to this report.