Market Data 
Investing.com– Most Asian stocks moved in a tight range on Tuesday as caution persisted before a slew of key economic readings this week, while Japanese markets rose sharply after a long weekend.
Regional markets took middling cues from a flat overnight close on Wall Street, as anticipation of closely-watched U.S. inflation data this week kept investors to the sidelines.
U.S. stock index futures were flat in Asian trade. Consumer price index inflation data from the U.S. is the biggest point of focus for markets this week.
Nikkei, TOPIX surge in catch-up trade, GDP on tap
Japan’s and indexes rose 2.3% and 1.8%, respectively, extending a rebound from late last week.
Both indexes had plummeted into bear market territory last week following hawkish signals from the Bank of Japan. But less hawkish comments from some BOJ officials and a softer yen helped Japanese stocks recoup a bulk of their losses.
Some positive earnings also aided sentiment, especially in the chipmaking sector.
Focus this week is squarely on data for the second quarter, where traders will be watching for any signs of improvement in growth.
The Japanese economy shrank substantially more than expected in the first quarter, denting sentiment towards the country. But any improvement in growth also presents the BOJ with more headroom to hike interest rates further this year.
Chinese stocks lag with earnings, economic cues on tap
Underperformance in Chinese markets persisted, with the and moving in a flat-to-low range on Tuesday. Hong Kong’s index also tread water.
Some of China’s biggest firms are set to report their quarterly and half-year earnings this week, with Hong Kong-listed majors including Tencent Holdings Ltd (HK:), Alibaba Group (HK:) (NYSE:), JD.com (HK:), members of the CK group and China Unicom (NYSE:) Hong Kong (HK:) due in the coming days.
Traders will be watching to see whether Chinese firms were able to weather seemingly dismal economic conditions in the country.
Beyond the earnings, focus is also on and readings from the country, due on Thursday.
Indian stocks eye muted open with Adani in focus
Futures for India’s index pointed to a mildly negative open, after the index clocked wild swings on Monday before settling lower.
Sentiment towards Indian markets was rattled by allegations of collusion between India’s securities regulator and conglomerate Adani Group, raised by short seller Hindenburg.
Shares under the Adani Group fell on Monday, with losses in the group’s flagship Adani Enterprises Ltd (NS:) and Adani Ports and Special Economic Zone Ltd (NS:) also weighing on India’s stock benchmarks.
Indian markets were also reeling from a slightly more hawkish than expected tilt from the Reserve Bank last week.
Broader Asian stocks were mostly muted. Australia’s rose 0.2% as data showed improved slightly in August.
South Korea’s fell 0.1%.
