Asia Pacific Markets Trade Mixed as Investors Look Ahead to US and China’s Economic Data

On Wednesday morning (28 Feb, 9:26 AM, GMT+7, Bangkok time), major indices in Asia Pacific traded mixed after the Reserve Bank of New Zealand held its official cash rate at 5.50%. Meanwhile, investors looked forward to key inflation data from the US and economic data from China coming this week.


Japan’s NIKKEI decreased by 0.31% to 39,116.71. Australia’s ASX 200 edged down by 0.2% to 7,647.4, while South Korea’s KOSPI edged up by 0.47% to 2,637.26.

As for stocks in China, Shanghai’s SSEC rose by 0.01% to 3,015.79. Shenzhen’s SZI climbed by 0.6% to 9,324.85, while Hong Kong’s HSI dropped by 0.44% to 16,716.59.


Meanwhile, the US stock markets edged higher on Tuesday as NASDAQ grew by 0.37% to 16,035.3. S&P 500 surged by 0.17% to 5,078.18, while the Dow Jones Industrial Average (DJIA) slid by 0.25% to 38,972.41. VIX declined by 2.26% to 13.43.


As for commodities, oil prices edged higher on Tuesday as investors expected OPEC+ to carry on oil production cuts beyond the first quarter, while uncertainty from the war in the Middle East continued. Brent edged up $1.12 or 1.36% to $83.65 per barrel, and the West Texas Intermediate (WTI) gained $1.29 or 1.66% to $78.87 a barrel.

This morning, Brent edged down 34 cents or 0.41% to $83.31 a barrel, and WTI slid 30 cents or 0.38% to $78.57 per barrel.

Meanwhile, gold futures decreased by 0.14% to $2,041.2 per Troy ounce.