Markets mixed as traders await US data, Fed speakers

Asian markets were mixed Tuesday following a tepid performance on Wall Street, with profit-taking tempering hopes for Federal Reserve interest rate cuts next year and traders awaiting key US inflation data due later this week.

A string of indicators in recent months pointing to a slowing economy — as well as a below-forecast rise in consumer prices — have fuelled optimism that the US central bank has hiked borrowing costs for the last time this cycle.

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