Asia-Pacific markets mostly rise after South Korea’s inflation rate hits 42-month low

Asia-Pacific markets mostly climbed on Tuesday as investors assess South Korea’s August inflation numbers, which eased to its lowest level on a year-on-year basis since March 2021. The country’s consumer price index recorded a 2% rise year on year, coming down from July’s 2.6% and in line with expectations from a Reuters poll of economists. On a month-on-month basis, the CPI rose 0.4%, slightly higher than the 0.3% expected from the Reuters poll. Japan’s Nikkei 225 was 0.24% up in early trade, while the Topix was 0.6% higher. South Korea’s Kospi was 0.11% higher, and the small cap Kosdaq inched up 0.01%. In contrast, Australia’s S&P/ASX 200 was down 0.11%. Mainland China’s CSI 300 also fell marginally, extending losses from a seven-month low on Monday. Hong Kong Hang Seng index slipped 0.12% Markets in the U.S. were closed on Monday due to the Labor Day holiday. Futures tied to the three major indexes were down ahead of Tuesday’s session. The blue chip Dow Jones Industrial Average slipped 57 points, or 0.14%. S&P 500 futures fell 0.12%, and Nasdaq-100 futures fell 0.26%,