Asia-Pacific shares set to fall at the open; investors look ahead to China’s inflation data

Asia-Pacific shares set to fall at the open; investors look ahead to China’s inflation data

SINGAPORE — Shares in Asia-Pacific fell in Friday morning trade as investors look ahead to the release of China's inflation data. In Japan, the fell 1.13% in early trade while the Topix index shed 1%. Olympics organizers will , after a state of emergency was declared by Japan as the country sees rising Covid-19 cases. Meanwhile, South Korea's also dropped 1.04%. South Korea announced Friday that the greater Seoul area will be placed under the toughest social distancing rules of Level 4, . Elsewhere, Australian stocks also declined as the shed 0.15%. MSCI's broadest index of Asia-Pacific shares outside Japan traded 0.15% lower. On the economic data front, China's consumer price index and producer price index for June is set to be out at 9:30 a.m. HK/SIN on Friday. Overnight on Wall Street, the Dow Jones Industrial Average fell 259.86 points to 34,421.93 while the S&P 500 declined 0.86% to 4,320.82. The Nasdaq Composite slipped 0.72% to 14,559.78. The losses came on the back of U.S. Labor Department's which was unexpectedly higher, hinting at a potential slowdown in the labor market. Currencies and oil The , which tracks the greenback against a basket of its peers, was at 92.359 following