Containers at a shipping terminal in Yokohama, Japan on Oct. 18, 2021. Japan’s trade deficit surged in September as imports overwhelmed export growth.
Kiyoshi Ota | Bloomberg | Getty Images
Asia-Pacific markets opened mixed on Wednesday, following losses on Wall Street that saw the Dow Jones Industrial Average tumble for a ninth straight day.
Investors in Asia will assess trade data out of Japan, which will be released later in the day, ahead of a Bank of Japan rate decision this week.
The country’s exports are expected to have increased 2.8% in November year over year, according to economists polled by Reuters. Imports are expected to have risen 1%.
Japan’s benchmark Nikkei 225 opened to trade down 0.4%, while the broad-based Topix fell 0.1%.
South Korea’s Kospi was up 0.7%, while the small-cap Kosdaq was 0.25% higher.
Australia’s S&P/ASX 200 was trading up 0.2%.
Hong Kong Hang Seng index futures were at 19,872 higher than the HSI’s last close of 19,700.5.
Traders are looking ahead to the People’s Bank of China loan prime rates set for release on Friday. The one-year LPR influences corporate loans and most household loans in China, while the five-year LPR serves as a benchmark for mortgage rates.
In the U.S. on Tuesday, the blue-chip Dow entered the history books with its first nine-day losing streak since 1978.
The 30-stock average slid 267.58 points, or 0.61%, to settle at 43,449.90. The S&P 500 lost 0.39% and closed at 6,050.61, while the Nasdaq Composite dropped 0.32% to end at 20,109.06.
The Dow’s losing streak began the day after it closed above 45,000 for the first time ever earlier in the month and it comes at a time when the broader market is doing well.
The S&P 500 hit a new high on Dec. 6 and sits less than 1% from that level. The Nasdaq hit a record on Monday.
Driving the Dow’s losses has been a rotation into technology stocks and out of some of the more old-economy stocks that gained in November following Donald Trump’s historic election win.
— CNBC’s Brian Evans and Samantha Subin contributed to this report.
