People watch the first sunrise of the new year from a footbridge overlooking the city skyline in Seoul on January 1, 2024.Â
Jung Yeon-je | Afp | Getty Images
Asia-Pacific markets are set to open mixed on Tuesday, even as the S&P 500 and Nasdaq Composite reached new highs on Wall Street overnight.
The broad market index advanced by 0.26%, closing at 5,360.79, while the Nasdaq Composite gained 0.35% to end at 17,192.53.
The Dow Jones Industrial Average added 0.18%, tracking the rise in the S&P and Nasdaq.
Traders in Asia be looking to the U.S. Federal Reserve’s decision on Wednesday stateside, which will come after the May inflation report is released earlier the same day.
Investors will parse through the Fed’s updated projections on the timing and frequency of rate cuts. Markets are now pricing in just one rate cut this year, coming in November, according to the CME FedWatch Tool.
Asia-Pacific markets like Australia, Hong Kong, mainland China and Taiwan will return to trade on Tuesday, after being closed for a public holiday the previous day.
Futures for Australia’s S&P/ASX 200 stood at 7,805, slightly lower than the previous close of 7,860.
Japan’s Nikkei 225 futures pointed to a stronger open for the market, with the futures contract in Chicago at 39,155 and its counterpart in Osaka at 39,150 compared to the previous close of 39,038.16.
Hong Kong’s Hang Seng index futures were at 18,096, lower than the HSI’s last close of 18,366.95.
— CNBC’s Lisa Kailai Han and Sarah Min contributed to this report.