Asia markets poised to fall as investors await key U.S., China economic data

Asia-Pacific stocks are expected to decline as investors await data on the U.S. personal consumption expenditures price index. This data will provide clues regarding the Federal Reserve’s interest rate cut path. China’s manufacturing purchasing managers’ index reading is also scheduled to be released soon. Futures for Hong Kong’s Hang Seng index suggest a marginally higher open compared to the previous close. Hong Kong plans to remove property curbs to stimulate its real estate sector and has forecasted economic growth for 2024. In other news, Walt Disney and an Indian conglomerate will merge their Indian businesses, creating a combined entity valued at approximately $8.5 billion.