Asia-Pacific markets are set for mixed open ahead of business activity data from the region

In Asia

A block of industrial factories sits among newer apartment buildings along a canal in Tokyo, Japan. 

Photo By Michael Russell | Moment | Getty Images

Asia-Pacific markets were set to open mixed on Wednesday, after U.S. Federal Reserve Chair Jerome Powell noted progress on inflation, but reiterated patience on cutting rates at a central banking forum.

Traders in Asia await June business activity data from India, Japan and China set for release later in the day.

Futures for Australia’s S&P/ASX 200 stood at 7,722, slightly higher than its last close of 7,718.2.

Japan’s Nikkei 225 futures pointed to a higher open for the market, with the futures contract in Chicago at 40,280 and its counterpart in Osaka at 40,240 compared to the previous close of 40,074.69.

Hong Kong Hang Seng index futures were at 17,764, lower than the HSI’s last close of 17,769.14.

Overnight in the U.S., the Dow Jones Industrial Average gained 0.41%, the S&P 500 gained 0.62%, and the Nasdaq Composite jumped 0.84%. Both the Nasdaq and the S&P 500 hit record high closes.

Tesla shares helped lift the S&P 500 after Elon Musk’s electric vehicle company beat expected deliveries for the second quarter.

—CNBC’s Pia Singh and Sarah Min contributed to this report.

Read More: Asia-Pacific markets are set for mixed open ahead of business activity data from the region

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