Investors will be monitoring developments for signals. There’s a Bank of Korea policy decision and briefing on Tuesday, and Atlanta Fed President Rafael Bostic is also speaking on inflation. In India, September CPI is due later today, along with August IIP data. The government will also release the September business figures.
Asian stocks fall on inflation concerns
Most Asian stocks fell on Tuesday on concerns about increased inflation from energy costs and the prospect of broader Chinese crackdown on private industry. Treasury yields were stable.
Shares fell in Japan and South Korea, but gained gains in Australia. US futures retreated after the S&P 500 and Nasdaq 100 fell for the second day as a slow recovery from the pandemic shadow trading looked likely. A report suggesting that China was probing private industry by probing ties with state-run banks also soured the mood.
Japan’s Topix index was down 0.5%, while South Korea’s Kospi fell 1.2%.
Australia’s S&P/ASX 200 index fell 0.1% and Hang Seng index futures lost 0.9%.
Overnight, the Dow Jones Industrial Average fell 0.72%, the S&P 500 fell 0.69%, and the Nasdaq Composite fell 0.64%.
Some analysts anticipate businesses reporting slower growth due to supply-chain disruptions and rising prices. He warned that this could lead to a fall in US stocks.
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