Asian stock markets mostly fell on Friday, while US futures were little changed after US inflation data improved. This was reported by Qazaqyia.kz citing Associated Press.
Japan's Nikkei 225 index fell 0.2% to 36,214.32 points. South Korea's KOSPI fell 0.4% to 2,684.52 points. Hong Kong's Hang Seng fell 0.3% to 17,234.56 points. China's Shanghai Composite fell 0.1% to 3,045.67 points.
In the US, S&P 500 futures rose 0.1% and Dow Jones futures rose 0.2% on Friday morning.
According to the US Bureau of Labor Statistics, the Consumer Price Index (CPI) rose 2.9% year-on-year in July, down from 3.0% in June. This indicates that inflation is slowing.
Market participants expect the Federal Reserve to cut interest rates in September. According to the CME FedWatch tool, traders see a 74% probability of a rate cut in September.
Oil prices also fell. WTI crude fell 0.3% to $78.12 per barrel. Brent crude fell 0.2% to $81.34 per barrel.
In the currency market, the dollar stood at 147.23 yen, and the euro stood at $1.0987.
Analysts say that slowing inflation could allow the Federal Reserve to cut interest rates. However, markets remain uncertain, as geopolitical risks and slowing economic growth could affect the global economy.
The decline in Asian stock markets was mainly driven by weakness in technology stocks. Samsung Electronics shares fell 1.2%, SK Hynix shares fell 0.8%. In Japan, Sony shares fell 0.5%, Toyota shares fell 0.3%.
China's economic data also affected the market. China's industrial production rose 5.1% year-on-year in July, below analysts' expectations. Retail sales rose 2.7%, also below expectations.
Overall, global markets remain cautious despite the improvement in US inflation. Investors are awaiting the Federal Reserve's next meeting and new economic data.