Cityscape and Tokyo Tower at sunset, Tokyo, Japan.
© Marco Bottigelli | Moment | Getty Images
Asia-Pacific markets are set to climb Wednesday, tracking Wall Street gains while anticipating a slew of key economic data in the region.
Japan’s benchmark Nikkei 225 is set to open higher, with the futures contract in Chicago at 36,080 while its counterpart in Osaka last traded at 36,070, against the index’s last close of 35,839.99.
Australia’s benchmark S&P/ASX 200 is set to rise, with futures standing at 8,025, up from the index’s close of 8,070.6.
The Bank of Japan kickstarts its policy meeting on Wednesday, and is widely expected to hold rates at 0.5% when the meeting concludes on Thursday.
Investors will also be waiting on a slew of key economic data in the region. China will be reporting its PMI data for April while Japan is slated to release its industrial output and retail sales data for March. Australia is expected to report its inflation data for the first quarter of the year.
President Donald Trump said Tuesday that tariff negotiations with India are “coming along great,” and he believes the U.S. will strike a trade deal with the South Asian nation.
Speaking at a White House press briefing, Treasury Secretary Scott Bessent said the administration also held “substantial talks” with Japan over a possible trade deal, and that “the contours of a deal” with South Korea could be coming together.
Stock futures tied to the Dow Jones Industrial Average were little changed Tuesday night after the blue-chip index posted its longest winning run since July. Futures tied to the 30-stock Dow fell 6 points, or 0.01%. S&P 500 futures slipped 0.2%, while Nasdaq 100 futures lost 0.4%.
Overnight stateside, the three major averages closed higher. The Dow Jones Industrial Average rose on Tuesday, hitting its highs of the day.
The Dow climbed 300.03 points, or 0.75%, to close at 40,527.62. The S&P 500 gained 0.58%, ending at 5,560.83. Both indexes posted a sixth straight positive day, marking the longest win streak since July for the Dow and since November for the S&P 500. The Nasdaq Composite advanced 0.55%, settling at 17,461.32.
— CNBC’s Sean Conlon, Alex Harring and Erin Doherty contributed to this report.
