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Asia markets set to extend losses ahead of China loan prime rate decision; Fed decision on horizon


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SHENZHEN, CHINA – AUGUST 26: An aerial view of the Shenzhen skyline on August 26, 2020 in Shenzhen, Guangdong Province of China. (Photo by He Shaoping/VCG via Getty Images)

Vcg | Visual China Group | Getty Images

Asia-Pacific markets are set to extend losses from Tuesday as investors await China’s one-year and five year loan prime rates and brace for the U.S. Federal Reserve’s rate decision Wednesday stateside.

The region will also see August trade data out from Japan, while wholesale inflation in South Korea jumped for the first time since July 2022.

Japan’s Nikkei 225 is set for a weak open, with the futures contract in Chicago at 33,090 and its counterpart in Osaka at 33,050 against the index’s last close of 33,242.59.

In Australia, futures for the S&P/ASX 200 also point to a lower open, at 7,184 compared with the last close of 7,196.6.

Futures for Hong Kong’s Hang Seng index stood at 17,980, lower than the HSI’s last close of 17,997.17.

On Tuesday in the U.S., all three major indexes lost ground ahead of the Fed’s decision, with the Dow Jones Industrial Average shedding 0.31%.

The broad-market S&P 500 slid 0.22%, while the Nasdaq Composite lost 0.23%.

— CNBC’s Samantha Subin and Alex Harring contributed to this report

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