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Asia-Pacific markets were largely higher Tuesday even as stocks on Wall Street stumbled, with the Dow Jones Industrial Average snapping an eight-day winning streak. Investors in Asia assessed India's inflation numbers. Data released Monday showed consumer price index climbed 4.83% year on year, nearly in line with the 4.8% expected by economists polled by Reuters. India's wholesale inflation reading is due to be released later in the day. Data from the Bank of Japan showed that corporate inflation was steady in April compared with a year earlier, but import prices jumped 6.4% year over year last month, most likely due to the yen's sharp declines.

Organizations: Dow Jones, Reuters, Bank of Japan Locations: Jama, New Delhi, India, Asia, Pacific

The Bank of Japan (BOJ) headquarters is seen beyond the cherry blossoms in Tokyo on March 20, 2023. Asia-Pacific markets were set for a mixed open Monday as investors brace for a week of central bank meetings. The U.S. Federal Reserve will start its Federal Open Market Committee meeting on Tuesday. A Reuters poll of economists is expecting the Fed to hold its benchmark interest rates steady at 5.25% to 5.5%. In Asia, the Reserve Bank of Australia is expected to keep its cash rate steady at 4.35% when it concludes its meeting on Tuesday.

Organizations: Bank of Japan, U.S . Federal Reserve, Open, Reserve Bank of Australia, Bank of England Locations: Tokyo, Asia, Pacific, Europe

A man takes photos of a view showing residential and commercial buildings, from an observation deck beneath the YTN Seoul Tower, commonly known as the Namsan Tower, in Seoul on September 3, 2021. Asia-Pacific markets rose after comments from U.S. Federal Reserve Chair Jerome Powell hinted that interest rate cuts may not be too distant if inflation signals support policy easing. Speaking to the Senate Banking Committee, Powell didn't offer an exact timeline for rate cuts, but noted they would go down soon. "We're waiting to become more confident that inflation is moving sustainably at 2%. When we do get that confidence, and we're not far from it, it'll be appropriate to begin to dial back the level of restriction," Powell said in response to a question about rates and inflation.

Persons: Jerome Powell, Powell, we're Organizations: U.S . Federal, Senate Banking Locations: Seoul, Asia, Pacific, U.S

Lamp posts in front of the Reserve Bank of Australia (RBA) building in Sydney, Australia, on Monday, Feb. 6, 2023. Asia-Pacific markets were set for a mixed open ahead of the interest rate decision from the Reserve Bank of Australia later Tuesday. Twenty-nine economists polled by Reuters unanimously expect the RBA to hold rates at 4.35%. In Japan, household spending dipped more than expected in December, falling 2.5% year on year compared with the 2.1% expected by economists polled by Reuters. The Bank of Japan has said sustainable wage increases are one of the prerequisites for unwinding its ultra-loose monetary policy.

Organizations: Reserve Bank of Australia, Reuters, Bank of Locations: Sydney, Australia, Asia, Pacific, Japan, Bank of Japan

Asia-Pacific markets are set to fall after the U.S. Federal Reserve signaled it was unlikely to cut rates in March. Overnight, Fed Chair Jerome Powell said the central bank would likely not be comfortable enough with the path of inflation by its next meeting in March to cut interest rates. But that's to be seen," Powell said. In Asia, investors will assess private surveys on business activity for January across the region, most notably, the Caixin purchasing managers index out from China. Economists polled by Reuters expect the Caixin manufacturing PMI to come in at 50.6, an expansionary figure compared with official figures of 49.2 released on Wednesday.

Persons: Jerome Powell, Powell Organizations: U.S . Federal Reserve, Reuters, PMI Locations: Asia, Pacific, China

Hong Kong Kanchisa Thitisukthanapong | Moment | Getty ImagesHong Kong market led losses in Asia-Pacific on Monday, followed by China stocks which dropped after shadow banking conglomerate Zhongzhi Enterprise Group filed for bankruptcy liquidation late Friday. The Hang Seng index plunged over 2% in its final hour as healthcare stocks fell, while mainland China's CSI 300 dropped 1.29% to close at 3,472.19. In Australia, the S&P/ASX 200 fell 0.50% to close at 7,451.50, while South Korea's Kospi lost 0.4%, ending at 2,567.82. The small-cap Kosdaq was up 0.11%, finishing at 879.34 and hitting its highest level since Sept. 19. Japan's markets are closed for a public holiday, and will resume trading on Tuesday.

Persons: Kospi Organizations: Hong, Zhongzhi Enterprise, CSI Locations: Hong Kong, Asia, Pacific, China, Australia, South

In a photo taken on November 4, 2019 a subway train crosses a rail bridge over the Han river, before the skyline of the Yeouido business district of Seoul. Asia-Pacific markets largely rose on Tuesday, mirroring similar moves on Wall Street after a tech-fueled rally. Microsoft shares gained 2%, reaching a new 52-week high, after CEO Satya Nadella said former OpenAI chief Sam Altman will join the tech giant to lead a new AI research team. Chipmaker Nvidia also added 2.3%, closing at an all-time high for the stock ahead of its earnings report Tuesday. Investors in Asia will also assess South Korean producer prices for October, as well as New Zealand's October trade figures.

Persons: Satya Nadella, Sam Altman Organizations: Microsoft, Nvidia, Investors, South Locations: Seoul . Asia, Pacific, Asia, South Korean

Signage at a residential project developed by Country Garden Holdings Co. in Baoding, Hebei province, China, on Tuesday, Aug. 1, 2023. Chinese real estate developer Country Garden Holdings said it expects it will not be able to make all of its offshore repayments, including those issued in U.S. dollar notes. Country Garden warned that this could lead to creditors demanding faster repayments of debt or pursuing enforcement action. Looking ahead, the company expects uncertainty in its liquidity position and asset sales in the short and medium term amid a lack of material, industry-wide improvement in property sales. Chinese property giants such as Evergrande and Country Garden have been plagued by debt problems, hurting consumer confidence in the sector.

Organizations: Country Garden Holdings Co, Garden Holdings, Hong Kong Locations: Baoding, Hebei province, China

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