South Korea GDP, Malaysia CPI, BOJ MPM meeting

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South Korea GDP, Malaysia CPI, BOJ MPM meeting

Commercial and residential buildings seen from the rooftop of the Lotte Corp. World Tower at sunset in Seoul, South Korea, on Tuesday, Nov. 28, 2023. 

Bloomberg | Bloomberg | Getty Images

Asia-Pacific markets took a breather after two straight days of rallies, mirroring moves on Wall Street ahead of first-quarter ****** domestic product figures from the U.S. due Thursday.

In Asia, investors will assess South Korea’s advance first-quarter GDP growth of 3.4% year on year, the highest quarterly growth since the fourth quarter of 2021.

Separately, the Bank of Japan kicks off its monetary policy meeting Thursday as investors monitor for action against yen weakness. The yen slid past the 155 mark against the U.S. dollar on Wednesday, hitting a fresh 34-year low.

Japan’s Nikkei 225 dropped 1.8%, while the Topix was down 1.4%. The yen was still firmly beyond the 155 mark against the greenback, trading at 155.41.

South Korea’s Kospi also slipped 1.12%, while the small cap Kosdaq was down 0.36%.

Hong Kong’s Hang Seng index was 0.45% lower, while China’s CSI 300 fell 0.4%.

Markets in Australia and New Zealand are closed for a public holiday.

Overnight in the U.S., all three major indexes were largely range bound as interest rate fears dampened the enthusiasm stemming from a strong slate of corporate earnings.

Treasury yields rose, pressuring stocks. At session highs, the benchmark 10-year Treasury note yield topped 4.67%, while the rate on the 2-year note surpassed 4.95%

The S&P 500 eked out a 0.02% gain, while the Dow Jones Industrial Average fell 0.11%. The Nasdaq Composite edged 0.1% higher.

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

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