Asian markets are trading lower today, driven by concerns over upcoming US inflation data and its potential impact on the Fed interest rate cuts path. Key equity benchmarks across the region are all lower with the regional index hitting its lowest level since mid-September. Rising yields, a stronger USD, and trade uncertainties are weighing on investor sentiment. 

• Chinese mainland stocks are stabilizing after earlier losses tied to fears over US-China relations under the Trump administration, with his key picks for top government posts being critical of China. The CSI 300 is flat, Telecom stocks are outperforming the wider market with that index up 2.60%. Hong Kong listed equities continue to struggle with the HSI down 1%, with the Mainland Property Index -1.50% and the HS Tech Index -1.30%.
• Japanese stocks edged lower as the rally following the US election begins to lose momentum. Despite some support from positive earnings reports, after Tokyo Electron jumped 3.50% after reporting better-than-expected 2Q results, overall market sentiment is dampened by uncertainty around US economic policy. The TOPIX is 1% lower, while the Nikkei is -1.10% lower
• South Korean stocks are under pressure, with tech giants like Samsung and LG Energy leading the losses. Foreign investors have sold $202m of Korean equities this morning, with majority of that coming from tech stocks, while there has been small buying of Service & Medical stocks. Earlier the unemployment rate rose to 2.7% vs 2.6% est and up from 2.5% in September. Taiwan equities saw their largest outflow in over two months on Tuesday, the TAIEX is trading little changed today.
• Australian equities have been dragged down by losses in banking and mining stocks, tracking Wall Street's retreat after a recent rally. The ASX200 is trading 1.10% lower today. New Zealand's NZX50 is 0.85% lower.