A beautiful, colorful aerial view of the Mumbai skyline during twilight from Kuri Road, on February 16, 2022 in Mumbai, India.
Prateek Chorjee | Hindustan Times | Getty Images
Asia-Pacific markets were largely range-bound on Thursday after Wall Street's technology-fueled rally dissipated, with investors focusing on Japan's spring wage negotiations and wholesale inflation data in India.
Wage negotiations in Japan concluded on Wednesday, and the first comprehensive estimate is due on Friday. Reports from local media indicated that large companies had offered “significant” pay increases.
Strong wage increases could pave the way for the Bank of Japan to begin unwinding its ultra-loose monetary policy, as the central bank is scheduled to meet next Monday and Tuesday.
Japan Nikki 225 It fell by 0.3% following these reports, as markets estimate the possibility of a tightening of the Bank of Japan's policy. The broad-based Topix index was trading near the flat line.
South Korea Cosby The Kosdaq index rose by 0.46%, while the Kosdaq index fell by 0.71%.
Hong Kong's Hang Seng rose 0.28%, resuming its rise after snapping a three-day winning streak on Wednesday, while the CSI 300 in mainland China rose 0.3%.
in Australia, Standard & Poor's/ASX 200 It was 0.1% lower.
Overnight in the US, major indices finished mixed with tech giants Nvidia Decreased 1.1% dead Declined 0.8% and apple It fell by 1.2%, after US inflation data for February came in roughly in line with expectations.
“I think it was comforting to see [headline] “Yesterday's CPI number, but people are still cautious about the fundamental data,” said Ayako Yoshioka, senior portfolio manager at Wealth Enhancement Group. “In the short term, the macro narrative around the Fed will be the front and center issue.”
the Standard & Poor's 500 It closed lower by 0.19%, instead Nasdaq Composite On the other hand, it lost 0.54% Dow Jones Industrial Average He added 0.1%.
– CNBC's Brian Evans and Jesse Pound contributed to this report.
