Asian shares were mixed on Tuesday, with Tokyo and Hong Kong falling while Shanghai, Seoul, and Sydney gained.
MSCI's decision to increase India's weight in its Emerging Market India index is expected to drive inflows of about $1.5 billion.
Shopify announced a Black Friday record for worldwide sales of $4.1 billion from its merchants.
The Indian rupee remained unresponsive to strength in its Asian peers and hovered in a tight range.
The S&P 500 is on track to close out November as its best month of the year.
The Indian rupee has remained unresponsive to strength in its Asian peers and hovered in a tight range. Equity-related inflows and month-end exporter dollar sales may offer some support to the rupee. MSCI's decision to increase India's weight in its Emerging Market India index is expected to drive inflows of about $1.5 billion. Market participants will be keeping an eye on the OPEC+ meeting and U.S. inflation data to assess the overall weakness in the dollar.
Asian shares were mixed on Tuesday, with Tokyo and Hong Kong falling while Shanghai, Seoul, and Sydney gained. Investors are awaiting updates on inflation and consumer confidence. Economists expect the Federal Reserve's preferred measure of inflation to continue easing, as it has been since mid-2022. Signs of a slowing U.S. economy and uncertain conditions in China are affecting market sentiment.
The S&P 500 is on track to close out November as its best month of the year. The main focus for the rest of the year will be on the Federal Reserve and its actions to cool inflation without causing a recession. Investors are cautiously optimistic that inflation has cooled enough for the Federal Reserve to end its aggressive interest rate hikes. Shopify announced a Black Friday record for worldwide sales of $4.1 billion from its merchants.