After Monday's surprising resilience on Wall Street, world markets' reversion to type on Tuesday should set the tone for Asia on Wednesday - weakness in stocks, a buoyant dollar, elevated bond yields and souring investor sentiment. The regional economic data calendar includes the release of Australian and Japanese purchasing managers index reports that will give the first glimpses into how these economies performed in August, and consumer price inflation from Singapore. There is no obvious catalyst on Wednesday from economic indicators, central bank decisions or policymaker commentary to shake Asian markets out of their recent funk.
A man walks past an electric monitor displaying the Japanese yen exchange rate against the U.S. dollar, Euro and other foreign currencies outside a brokerage in Tokyo - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist.
There is no obvious catalyst on Wednesday from economic indicators, central bank decisions or policymaker commentary to shake Asian markets out of their recent funk. Until there is, rebounds like Tuesday's are likely to be the exception rather than the rule. Platitudes aside, speculation persists that the central bank could be forced to take bolder action to support the yuan, perhaps by selling some of its large stash of U.S. Treasuries. The same goes for Japanese authorities and the yen.
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