South Korea CPI On Tap For Tuesday

South Korea is on Tuesday scheduled to release April figures for inflation, highlighting a modest day for Asia-Pacific economic activity.

The inflation rate is expected to come in higher by 2.8 percent on year, up from 2.6 percent in March; CPI was down 0.1 percent on month in March. Core CPI was up 1.9 percent on year in the previous month and down 0.4 percent on month.

New Zealand will provide Q1 figures for average hourly earnings, private sector labor cost and private wages. Labor cost is expected to rise 0.5 percent on quarter after adding 0.7 percent in Q4. Private wages are tipped to add 0.6 percent on quarter following the 0.7 percent increase in the previous three months. Hourly earnings were flat in Q4.

Australia will see the results of the AiG Performance of Manufacturing Index for April, plus Q1 numbers for its house price index. The AiG index saw a score of 49.5 in March, while house prices are expected to fall 3.9 percent on year and 0.5 percent on quarter. That follows the 4.8 percent annual contraction and the 1.0 percent quarterly drop in the fourth quarter.

Finally, most of the regional bourses are closed on Tuesday for Labor Day, including South Korea, Malaysia, Singapore, Taiwan, China, Hong Kong, Thailand, India, Vietnam and the Philippines. They will re-open on Wednesday.