Stocks in Asia Pacific declined in Wednesday morning trade, ahead of the release of Chinese inflation data for May.
In Japan, the Nikkei 225 slipped 0.81% in early trade, with shares of robot maker Fanuc dropping 2.27%. The Topix index also dipped 0.74%. South Korea's Kospi also declined 0.3%.
Elsewhere, the S&P/ASX 200 in Australia also shed 0.36%.
Overall, the MSCI Asia ex-Japan index traded 0.24% lower.
On the economic data front, Chinese inflation data for May is set to be released on Wednesday, with both the Consumer Price Index and Producer Price Index for the month expected to be out at around 9:30 a.m. HK/SIN.
Investors will also await the release of the U.S. Federal Reserve's economic forecast, expected on Wednesday stateside.
Overnight on Wall Street, the Nasdaq Composite rose 0.29% to hit a record close of 9,953.75. Meanwhile, the Dow Jones Industrial Average dropped 300.14 points, or 1.09%, and snapped its six-session winning streak to close at 27,272.30. The S&P 500 slipped 0.78% to finish its trading day at 3,207.18.
Oil prices drop
Oil prices dropped in the morning of Asian trading hours on Wednesday, with international benchmark Brent crude futures down 1.55% to $40.54 per barrel. U.S. crude futures also fell 1.95% to $38.18 per barrel.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 96.452 after dropping from levels around 97 earlier.
The Japanese yen traded at 107.82 per dollar following its strengthening from levels above 107.8 yesterday. The Australian dollar changed hands at $0.6939 after falling from levels above $0.696 yesterday.
What's on tap for Wednesday:
- China: Consumer Price Index and Producer Price Index for May at 9:30 a.m. HK/SIN
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June 10, 2020 at 07:16AM
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Asia Pacific stocks decline; China's inflation data ahead - CNBC
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