People have a look at a smartphone in front of electronic boards displaying stock information contained in the Australian Securities Exchange, operated by ASX Ltd., in Sydney, Australia.
David Moir | Bloomberg | Getty Images
Markets within the Asia-Pacific were set to trade mixed as expectations of cooled inflation within the U.S. lifted investor sentiment within the region.
On Friday, the University of Michigan consumer sentiment survey showed the one-year inflation outlook fell to 4%, the third straight monthly decrease and the bottom level since April 2021. That followed December’s CPI report, which showed prices declined 0.1% compared with a month ago — raising hopes that the Federal Reserve may soon slow its rate hikes.
In Australia, the S&P/ASX 200 rose 0.5% in its first hour of trade. The Nikkei futures contract in Chicago was at 25,830 while its counterpart in Osaka was at 25,780 — lower than the Nikkei 225‘s last close at 26,119.52.
Over the weekend, China reported a surge of nearly 60,000 Covid deaths since dropping restrictions last month. The announcement got here after the World Health Organization criticized China, alleging it was underreporting deaths.
On Sunday, the high-speed rail connecting mainland China and Hong Kong reopened for the primary time in three years.
Bitcoin passed $20,000, a key psychological level, for the primary time in over two months and last traded at $20,876.
On Friday, stocks on Wall Street ended the week within the green as investors digested bank earnings within the U.S. The S&P and Nasdaq each posted their second consecutive positive week and best weekly performance since November.
— CNBC’s Tanaya Macheel, Samantha Subin contributed to this report