Equity markets in Asia are poised for a mixed open as China’s growth concerns continued to weigh on markets even as stocks extended their rally in the US.

Futures for benchmarks in Australia and Japan rose, while contracts for stocks in Hong Kong declined. The worst day in almost a month for US-listed shares of Chinese companies also reflected souring sentiment.

Currencies were little changed in early Asia trading on Wednesday, after the greenback gained versus most of its major counterparts the day before, with the yen, New Zealand dollar and British pound among the worst performers.

Markets in the US closed near session highs on Tuesday, as results from Bank of America Corp. and Morgan Stanley bolstered bank shares and a rally in equities linked to artificial intelligence resumed. Both the S&P 500 and the tech-heavy Nasdaq 100 rose for a second day, while the blue-chip Dow Jones Industrial Average outperformed, up more than 1% for a seventh-day of gains, its longest winning streak in more than two years.

Treasuries ended mixed, with the yield on the policy-sensitive two-year note rising and the 10-year benchmark’s rate falling. In the swaps market, traders fully priced in a quarter-point hike at next week’s Federal Reserve meeting. European bonds gained after European Central Bank Governing Council member Klaas Knot said monetary tightening beyond next week’s meeting is anything but guaranteed.

US data showed industrial production and retail sales missed estimates, though an underlying measure of household spending pointed to a more resilient consumer.

Signs of slowing inflation and an improving economic picture have led traders to dial back wagers on how high the US overnight benchmark rate will go. However, quarterly forecasts from policy makers have shown a median expectation of two more quarter-point increases this year to bring inflation in line with the Fed’s target.

“The current picture on the consumer is a bit blurry,” said Jeffrey Roach, chief economist at LPL Financial. “It seems that excess savings buoyed retail activity in recent months but consumers are quickly depleting those excess reserves and starting to use credit to support spending habits.”

On the earnings front, Bank of America delivered a surprise gain from its core Wall Street businesses and Morgan Stanley executives pointed to an improved outlook. Goldman Sachs Group Inc. is scheduled to report Wednesday.

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In tech, Microsoft Corp. jumped as much as 6.1% after providing details on pricing for some artificial-intelligence services. set an expensive price tag on new AI products, buoying the sector. Netflix Inc. and Tesla Inc. are slated to release results Wednesday.

In contrast to the risk-on tone, the Nasdaq Golden Dragon Index of US-traded Chinese shares fell more than 3%. Among the latest reports, signs of financial stress at developers are hitting China’s dollar-bond market, and economists said China’s plan to boost consumption was still light on steps to meaningfully bolster recovery.

Elsewhere, oil rose amid signs that Russia is making good on its pledge to curb supplies.

Key events this week:

• Eurozone, UK CPI, Wednesday
• US housing starts, Wednesday
• China loan prime rates, Thursday
• US initial jobless claims, existing home sales, Conf. Board leading index, Thursday
• Japan CPI, Friday

Some of the main moves in markets:

Stocks

• S&P 500 futures were little changed as of 7:43 a.m. Tokyo time. The S&P 500 rose 0.7%
• Nasdaq 100 futures fell 0.1%. The Nasdaq 100 rose 0.8%
• Nikkei 225 futures rose 1.1%
• Australia’s S&P/ASX 200 futures rose 0.5%
• Hang Seng Index futures fell 0.7%

Currencies

• The Bloomberg Dollar Spot Index was little changed
• The euro was little changed at $1.1231
• The Japanese yen was little changed at 138.81 per dollar
• The offshore yuan was little changed at 7.1928 per dollar
• The Australian dollar was little changed at $0.6814

Cryptocurrencies

• Bitcoin was little changed at $29,772.62
• Ether rose 0.2% to $1,897.93

Bonds

• The yield on 10-year Treasuries declined two basis points to 3.79%
• Australia’s 10-year yield fell three basis points to 3.94%

Commodities

• West Texas Intermediate crude rose 0.1% to $75.83 a barrel
• Spot gold was little changed

This story was produced with the assistance of Bloomberg Automation.