Stocks to open lower as Wall Street rally fizzles

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Stocks to open lower as Wall Street rally fizzles

The momentum in Japan markets were largely driven by the country’s technology and financial sector. 

Doctoregg | Moment | Getty Images

Asia-Pacific stock markets were set to open lower Wednesday, tracking losses on Wall Street as the U.S. postelection rally stalled overnight.

****** traders will assess ********* corporate goods data, set for release later in the day. Economists polled by Reuters expect corporate goods prices to have risen by an average of 3% for the month of October compared to last year, up from 2.8% in September.

Japan’s Nikkei 225 futures pointed to a lower open for the market, with the futures contract in Chicago at 39,230 and its counterpart in Osaka at 39,250 compared to the previous close of 39,376.09.

Australia’s S&P/ASX 200 fell 1.2% at open.

Hong Kong Hang Seng index futures were at 19,631, lower than the HSI’s last close of 19,846.88.

Overnight in the U.S., stocks fell with both the tech-heavy Nasdaq and the S&P 500 snapping five-day win streaks.

The Dow Jones Industrial Average dropped 382.15 points, or 0.86%, to 43,910.98, while the S&P 500 fell 0.29% to close at 5,983.99. The Nasdaq Composite ended the session marginally lower at 19,281.40.

Small-cap stocks, perceived as possible beneficiaries of Donald Trump’s return as U.S. president, were largely under pressure, with the Russell 2000 sliding about 1.8%.

— CNBC’s Brian Evans and Alex Harring contributed to this report.

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