Mixed open expected in Asia-Pacific markets; Hong Kong's Hang Seng predicted to increase by 4%

Mixed open expected in Asia-Pacific markets; Hong Kong's Hang Seng predicted to increase by 4%
Mixed open expected in Asia-Pacific markets; Hong Kong's Hang Seng predicted to increase by 4%
  • The Hang Seng Index in Hong Kong is predicted to increase by 4% at the start of trading.
  • The HSI futures were higher at 19,763 compared to the index's previous close of 19,000.
  • On Wednesday, Australia's inflation numbers will be closely monitored by investors, as the consumer price index is predicted to increase by 2.7% annually, according to a poll of economists conducted by Reuters.

On Wednesday, Asia-Pacific markets were expected to open with mixed futures, indicating a potential 4% increase for Hong Kong's index at the start of trading.

The HSI futures were higher at 19,763 compared to the index's previous close of 19,000.

Yesterday, Chinese markets surged following the announcement of economic support measures by the central bank, with the HSI experiencing its best day in seven months and the CSI 300 recording its largest one-day increase in over four years.

On Wednesday, Australia's inflation numbers will be closely monitored by investors, as the consumer price index is predicted to increase by 2.7% annually, according to a poll of economists conducted by Reuters.

The S&P/ASX 200 index in Australia stood at 8,230, surpassing its previous closing price of 8,142.2. At this level, the index would also break its all-time closing high of 8,209.5.

While Japan's futures indicated a weaker opening for the market, the Chicago futures contract stood at 37,775 and its Osaka counterpart at 37,630, both lower than the previous close of 37,940.

On Tuesday, the S&P 500 and Dow Jones Industrial Average both rose to new records in the US, with the S&P 500 gaining 0.25% to 5,732.93 and the Dow Jones Industrial Average adding 0.2% to 42,208.22.

The Nasdaq Composite added 0.56%, powered by shares of chipmaker Nvidia.

Nvidia's CEO, Jensen Huang, sold his shares of the chipmaker, causing the stock to climb nearly 4%.

—CNBC's Brian Evans and Hakyung Kim contributed to this report.

by Lim Hui Jie

Markets