South Korea inflation hits 42-month low

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South Korea inflation hits 42-month low

A MLB store in the Myeongdong shopping district in Seoul, South Korea, on Saturday, March 9, 2024.

Bloomberg | Bloomberg | Getty Images

Asia-Pacific markets mostly climbed on Tuesday as investors assess

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, 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 0.18% up in early trade, while the Topix was 0.38% up.

South Korea’s Kospi was 0.17% higher, and the small cap Kosdaq inched up 0.02%.

In contrast, Australia’s S&P/ASX 200 was down 0.39%.

Futures for mainland China’s CSI 300 was at 3,265.4, mostly flat compared to the previous close of 3,265. The CSI 300 reached a seven-month low on Monday, dragged by real estate stocks.

Hong Kong Hang Seng index futures were at 17,671, lower than the HSI’s last close of 17,691.97.

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%,

—CNBC’s Lisa Kailai Han and Sarah Min contributed to this report.

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