Investing.com – Most Asian shares traded in ranges to lows on Thursday as sentiment remained tense ahead of key U.S. inflation data and Federal Reserve policymakers, while Japan’s Nikkei fell sharply after recent gains.
Regional markets largely responded to Wall Street’s strong offensive after hawkish comments from Fed Chairman Christopher Waller brought concerns about higher interest rates back into play in the longer term.
US stock futures fell in Asian trading, with focus now on data (the Fed’s preferred inflation gauge) and more remarks from Fed policymakers on Friday.
Japan’s Nikkei 225 falls as shares trade ex-dividend
Japan’s index fell more than 1% on Thursday, as several heavyweight stocks traded ex-dividend.
Losses among index heavyweights including SoftBank Group (TYO:), SoftBank Corp (TYO:) and Tokyo Electron Co.,Ltd. (TYO:) put pressure on Japanese indices as they all traded ex-dividend.
Japanese markets rose sharply on Wednesday as a sharp decline in prices to 1990 lows supported shares of export-oriented companies. But on Thursday they reversed much of the recent gains, with Japanese markets also facing increased resistance after rallying to record highs in early March.
Australia’s ASX 200 hits record high amid less optimistic RBA forecast
Australia’s index was the outlier in Asia, rising as much as 1% to a record 7,901.20.
The index benefited from overall gains, while heavyweight mining and banking stocks also rose.
Sentiment towards Australian markets has strengthened amid growing signs of weakening inflation in the country, which in turn represents a less aggressive outlook for the Reserve Bank of Australia.
Data on Thursday showed Australian revenue rose slightly less than expected in February, although most of the growth was driven by one-off costs from Taylor Swift’s concerts.
Thursday’s data also came after softer-than-expected data earlier this week.
Asian shares held in a tight range and were set for disappointing results this week as sentiment remained on edge ahead of new economic signals.
China and indexes rose 0.4% and 0.3%, respectively, after sharp losses earlier this week on concerns about slowing economic growth and deteriorating trade ties with the United States.
Hong Kong’s index rose 0.4%, also recovering slightly from recent losses.
South Korean shares fell 0.1% as gains in technology stocks slowed.
for India, the index indicated a moderately negative opening, although the index is likely to remain above 22,000 points.