Asia stocks set to trade lower as investors await Powell's testimony

Investors will be watching out for the release of Chinese inflation data, set to be out at 9:30 a.m. HK/SIN on Wednesday.

U.S. Federal Reserve Chairman Jerome Powell is scheduled to testify in front of the House Financial Services Committee on Wednesday. This comes just after a stronger-than-expected jobs report raised questions about the central bank's next move on interest rates. Stocks in Asia were set to trade lower on Wednesday as investors await the release of Chinese inflation data.

Futures pointed to a lower open for stocks in Japan, with the Nikkei futures contract in Chicago at 21,515, as compared to theShares in Australia were also poised to slide, with the SPI futures contract at 6,632.0, as compared to the benchmarkInvestors will be watching out for the release of Chinese inflation data, set to be out at 9:30 a.m. HK/SIN on Wednesday.

If I hear about one more story about a possible 25 basis pt cut... The economy must be smoke and mirrors realDonaldTrump crying about rates when 10 and 30yr rates are near 2-2.5%. Even jimcramer about 25bps in December. Really that’s your crutch? cmon man

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Source: Reuters - 🏆 2. / 97 Read more »