Reflections of pedestrians on an electronics stock indicator at the window of a securities company in Tokyo, Japan.
Toshifumi Kitamura | AFP | Getty Images
SINGAPORE — Asia-Pacific markets are set for a cautious open Tuesday, following a sell-off in tech stocks that weighed down major U.S. indexes overnight.
Stock futures tied to Japan’s Nikkei 225 pointed to opening losses for the benchmark, after ending Monday’s session 0.55% higher. In Australia, SPI 200 futures also similarly indicated a cautious start for the ASX 200, which closed 1.3% higher on Monday.
U.S. markets fell overnight as investors exited Big Tech stocks including Microsoft and Apple. The Nasdaq Composite suffered the largest loss, falling by 2.5%.
In the upcoming trading session in Asia, China’s inflation data for April will be on investors’ watchlist. Analysts polled by Reuters expect Chinese consumer prices rose 1% last month from a year ago, accelerating from 0.4% in March.
China is also expected to release results of its once-in-a-decade population census.
Elsewhere in the region, the Philippines is scheduled to report first-quarter gross domestic product data. Analysts in a Reuters poll expect the Southeast Asian economy to shrink 3% in the January-to-March quarter compared with a year ago.
In the foreign exchange market, the U.S. dollar was at 90.212 against a basket of its peers in early Asia trade.
— CNBC’s Thomas Franck contributed to this report.