Stocks to open lower as Wall Street rally fizzles
The momentum in Japan markets were largely driven by the country’s technology and financial sector.
Doctoregg | Moment | Getty Images
Asia-Pacific stock markets were set to open lower Wednesday, tracking losses on Wall Street as the U.S. postelection rally stalled overnight.
Asian traders will assess Japanese corporate goods data, set for release later in the day. Economists polled by Reuters expect corporate goods prices to have risen by an average of 3% for the month of October compared to last year, up from 2.8% in September.
Japan’s Nikkei 225 futures pointed to a lower open for the market, with the futures contract in Chicago at 39,230 and its counterpart in Osaka at 39,250 compared to the previous close of 39,376.09.
Australia’s S&P/ASX 200 fell 1.2% at open.
Hong Kong Hang Seng index futures were at 19,631, lower than the HSI’s last close of 19,846.88.
Overnight in the U.S., stocks fell with both the tech-heavy Nasdaq and the S&P 500 snapping five-day win streaks.
The Dow Jones Industrial Average dropped 382.15 points, or 0.86%, to 43,910.98, while the S&P 500 fell 0.29% to close at 5,983.99. The Nasdaq Composite ended the session marginally lower at 19,281.40.
Small-cap stocks, perceived as possible beneficiaries of Donald Trump’s return as U.S. president, were largely under pressure, with the Russell 2000 sliding about 1.8%.
— CNBC’s Brian Evans and Alex Harring contributed to this report.
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