Stock markets in Asia to open as traders weigh inflation

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Stock markets in Asia to open as traders weigh inflation

Bloomberg investors will be looking at the outlook for inflation and China's rapid shift from Covid Zero as markets open in Asia on Tuesday.

The offshore yuan advanced overnight after China announced it would drop quarantine for inbound travelers early next month. The Group-of-10 currencies were little changed against the dollar after small moves in thin liquidity on Monday.

The US Treasuries will resume trading after the end of a holiday-shortened session in the US on Friday. The benchmark 10 year yield went up the most last week since April, ending around 3.75%.

Investors are wary of price pressures from the tight labor market, while taking encouragement from data on Friday showing the Federal Reserve's closely watched measure of inflation cooling and consumer spending stagnating.

The S&P 500 and the tech-heavy Nasdaq 100 traded higher on Friday, while still suffering weekly losses.

The benchmark equity indexes for mainland China, Japan, India and South Korea went up on Monday. Hong Kong, Singapore, and Australia were shut down by most other key markets in the region. Some of the biggest moves in markets are:

The offshore currency was little changed at 6.9763 per dollar.

Spot gold rose 0.3% to $1,798. On Friday, an ounce was 20 an ounce.

The story was produced with the help of Bloomberg Automation.

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