Sunrise over Hong Kong’s Sky 100 Observation Deck.

Anuchit Kamsongmueang | Moment | Getty Images

Asia-Pacific markets were set to start the final month of this year on a stronger note, with investors awaiting a slew of key economic data Tuesday and inflation readings later this week.

Inflation reading for Tokyo will be released Tuesday, which is widely seen as a leading indicator for nationwide trends. South Korea inflation numbers will also be out the same day.

The Reserve Bank of Australia will hold its final meeting for the year tomorrow, with economists polled by Reuters expecting the bank to hold rates at 4.35%.

In Australia, the S&P/ASX 200 started the day up 1.19%.

Japan’s Nikkei 225 will most likely climb, with the futures contract in Chicago at 33,420 and its counterpart in Osaka at 33,470 against the index’s last close of 33,431.51.

Futures for Hong Kong’s Hang Seng index stood at 16,942, pointing to a stronger open compared with HSI’s close of 16,830.3.

On Friday in the U.S., the S&P 500 and the Dow Jones Industrial Average hit new highs for 2023, gaining 0.59% and 0.82% respectively. The tech-heavy Nasdaq Composite advanced 0.55%.

This came despite U.S. Federal Reserve Chair Jerome Powell pushing back against the market’s expectations for interest rate cuts ahead, saying it was “premature to conclude with confidence” that monetary policy was “sufficiently restrictive.”

— CNBC’s Sarah Min and Alex Harring contributed to this report

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