Bank of Japan decision, China PMI, Australian inflation

Asia-Pacific stocks mostly rose on Wednesday as investors awaited the Bank of Japan’s interest rate decision and assessed business activity data from China.

Economists polled by Reuters expect the central bank to maintain its current rate range, but Other analysts also expected a rate hike. The Bank of Japan’s benchmark interest rate is currently in a range of 0% to 0.1%.

If the bank raises interest rates, it will signal For the first time since 2010 The benchmark interest rate remained firmly above 0.1%.

China Factory The activity contraction speed is slightly faster The official manufacturing purchasing managers’ index came in at 49.4 in July, down from 49.5 in June. However, the figure beat forecasts in a Reuters poll, which had expected a PMI of 49.3.

Australia Second quarter inflation It increased by 1% month-on-month and the inflation rate increased by 3.8% year-on-year.

Inflation also came in at 3.8% in June, in line with expectations and down from 4% in May.

Lower inflation data could open up the possibility that the Reserve Bank of Australia could cut interest rates, or at least stop it from raising them, which is one course of action. This was discussed at the last monetary policy meeting.

Japan’s Nikkei 225 Index Ahead of the BOJ’s decision, Japanese shares fell 0.33%, while the broad-based Topix index rose 0.1%. The country’s retail sales India’s economy grew 3.7% in June from a year earlier, beating the 3.2% growth forecast by economists polled by Reuters.

South Korea Kospi The market rose 0.58%, with heavyweight Samsung Electronics rising 1.6% as the company reported a surprising Operating profit in the second quarter increased 1,458.2% year-on-year. Small-cap Kosdaq fell 0.78%

Australia S&P/ASX 200 Up 1.21%.

Hongkong Hang Seng Index It rose 2%, leading Asian markets, with mainland China’s CSI 300 index rising 1.65%.

In addition, the China Securities Regulatory Commission Replacement of Vice Chairman Fang Xinghai poses for a photo with Li Ming, director of the Inspection Bureau of the China Securities Regulatory Commission. Fang Xinghai has served as vice chairman of the China Securities Regulatory Commission since 2015. The official Global Times quoted local media reports, It is reported that Fang Zhouzi is about to retire.

In the United States, overnight S&P 500 Investors were bracing for quarterly earnings reports from big technology companies, weighed down by losses in those companies. Traders also had their eyes on Washington as the Federal Reserve began its latest policy meeting.

Nvidia The stock price fell 7%, while Microsoft It fell about 0.9%. Tech giants Amazon, Netflix and Meta Platform Also rejected.

The broader market index fell 0.5%, while Nasdaq Composite Index It fell by 1.28%. Dow Jones Industrial Average Up 0.5%.

—CNBC’s Pia Singh and Yun Li contributed to this report.