China’s consumer price index is expected to climb 0.4% in June, compared with 0.3% in May.
Traders in Asia will assess inflation data out of China, as well as producer prices growth from Japan
Federal Reserve Chair Jerome Powell on Tuesday expressed concern that holding interest rates too high for too long could jeopardize economic growth. Asia-Pacific markets started Wednesday lower, even as key Wall Street benchmarks rose following dovish comments from U.S. Federal Reserve Chairman Jerome Powell overnight.Powell signaled caution over leaving interest rates at too high a level, saying that"reducing policy restraint too late or too little could unduly weaken economic activity and employment."
Over in Asia, investors will assess inflation data from China and Japan, with China releasing its consumer and producer prices data for June. Inflation in China is expected to accelerate slightly to 0.4%, up from 0.3% in May, while its PPI is forecast to post a softer fall of 0.8% from May's 1.4% decline.China's largest insurer, Ping An Insurance, is considering issuing convertible bond worth up to $5 billion, according to sources with direct knowledge of the matter.climbed to a fresh record Tuesday after Powell's comments, gaining 0.07% to 5,576.98 and marking its 36th record close of the year.
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