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Pedestrians cross an intersection in the Shibuya district of Tokyo, Japan, on Tuesday, April 25, 2023. Photographer: Kentaro Takahashi/Bloomberg via Getty Images
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Asia-Pacific markets are set for a rebound in the final trading day of the week, mirroring moves on Wall Street.
Traders will be looking to key economic data out of Japan, including the September inflation rate for Tokyo. The capital’s data is seen as a leading indicator of nationwide trends. Japan will also see unemployment, industrial output and retail sales data for August
Japan’s Nikkei 225 is poised for a rebound after falling below the 32,000 mark for the first time in about a month, with the futures contract in Chicago at 32,030 and its counterpart in Osaka at 32,000 against the index’s last close of 31,872.52.
In Australia, futures for the S&P/ASX 200 also point to a higher open, at 7,097 compared to the last close of 7,024.
Futures for Hong Kong’s Hang Seng index stood at 17,554, also pointing to a stronger start compared to the HSI’s close of 17,373.03.
South Korean and mainland Chinese markets are closed for a holiday.
Overnight in the U.S., all three major indexes rallied ahead of the U.S. personal consumption expenditures price index reading due Friday. The PCE reading is the Federal Reserve’s preferred inflation metric.
Wall Street is also keeping an eye on Washington, as lawmaker negotiations on a U.S. spending bill continue before a Oct. 1 shutdown deadline for the government..
The Dow Jones Industrial Average climbed 0.35% The S&P 500 added 0.59%, and the Nasdaq Composite jumped about 0.83%.
— CNBC’s Sarah Min, Lisa Kailai Han and Alex Harring contributed to this report.
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