Asia markets set to fall ahead of Bank of Japan rate decision
Bank of Japan Governor Kazuo Ueda arrives to conduct an interview with a small group of journalists in Tokyo on May 25, 2023.
Richard A. Brooks | AFP | Getty Images
Asia-Pacific markets are set to fall ahead of the Bank of Japan’s rate decision on Friday.
Japan’s central bank is expected to keep its benchmark policy rate unchanged at -0.1%, but investors will be keenly watching for any signs of a shift in stance towards its yield curve control policy.
The Nikkei 225 looks to start lower, with the futures contract in Chicago at 32,600, and its counterpart in Osaka at 32,570 against its last close at 32,891.16.
In Australia, futures for the S&P/ASX 200 were at 7,367, lower than the index’s last close of 7,455.9, ahead of its producer price index figures for the second quarter.
Futures for Hong Kong’s Hang Seng index also point to a lower open for the index, standing at 19,347 compared to the HSI’s last close of 19,639.11.
Overnight in the U.S., all three major indexes slid, with the Dow Jones Industrial Average losing 0.67%. Should the Dow have recorded a 14th straight day of gains, the index would have tied its record winning streak going way back to 1897.
Separately, the Nasdaq Composite shed 0.55%, while the S&P 500 dropped 0.64%.
— CNBC’s Sarah Min and Samantha Subin contributed to this report
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