TOKYO, JAPAN – JULY 27: Pedestrians and shoppers walk through the Akihabara district on July 27, 2023 in Tokyo, Japan. Japan’s key consumer price index rose 3.3% in June, surpassing the U.S. reading for the first time in eight years, as the Bank of Japan holds its monetary policy meeting on July 27 and 28. (Photo by Tomohiro Ohsumi/Getty Images)
Tomohiro Ohsumi | Getty Images News | Getty Images
Asia-Pacific markets are expected to open higher on Tuesday after Wall Street tech stocks rallied on a rally in parent company Google and hopes for a Fed rate cut.
Optimism about Alphabet’s position in the AI
Japan’s benchmark Nikkei 225 The index was set to open higher, with its Chicago futures contract trading at 49,580 and its Osaka counterpart at 49,600, compared to the index’s Monday close of 48,625.88.
Australia’s ASX/S&P 200 rose 0.14% in early trading.
Futures for Hong Kong Hang Seng Index indicated a higher opening price, at 25,874, compared to the index’s previous close of 25,716.5.
U.S. stock futures were little changed in the early hours of the Asian morning.
Overnight, that S&P 500 rose 1.55% to close at 6,705.12, while the Nasdaq Composite rose 2.69% to close at 22,872.01. It was the tech-heavy index’s best day since May 12, when it rose 4.35%. The Dow Jones Industrial Average rose 202.86 points or 0.44% to end at 46,448.27.
— CNBC’s Sean Conlon and Yun Li contributed to this report.
