Asian markets trade mixed ahead of key US inflation data

Mettis Global reported that Asian markets were mixed on Wednesday as traders waited for the September US consumer price index, a release that could shape views on the Federal Reserve's future rate decisions. Citing CNBC, it noted that Australia's S&P/ASX 200 fell 0.62 per cent while Japan's Nikkei 225 gained 0.32 per cent. Seoul's Kospi rose 0.82 per cent, while the Topix slipped 0.11 per cent and the Kosdaq dropped 0.45 per cent.

Nikkei 225 futures pointed to a higher open, with Chicago at 68,055 and Osaka at 68,100, against a prior index close of 67,777.52. Sentiment was weighed by US semiconductor stocks, where the VanEck Semiconductor ETF had now dropped for six straight sessions over worries about heavy artificial intelligence spending and tougher competition from China.

Dow Jones economists expect annual US inflation to reach 3.6 per cent in September, up from 3.4 per cent. Oil prices remain elevated, and AAA puts average gasoline at $4.34 per gallon, compared with $3.08 a year before. A temporary easing of Russian diesel fuel export restrictions, announced by President Donald Trump, has raised questions about energy costs, though analysts see only slight help for truckers and farmers. Goldman Sachs and Citigroup shares closed lower on Tuesday despite strong quarterly results, while Bank of America, Morgan Stanley and the Dutch maker ASML are scheduled to report on Wednesday.