Asia stocks set to trade lower; China’s August industrial production data expected

Asia stocks set to trade lower; China's August industrial production data expected

SINGAPORE — Stocks in Asia have been set to slip on the open as buyers await the discharge of a slew of Chinese financial data expected later within the day.

Futures pointed to a decrease open for stocks in Japan. The Nikkei futures contract in Chicago was at 23,360 whereas its counterpart in Osaka was at 23,290. That in contrast in opposition to the Nikkei 225’s final shut at 23,559.30.

Shares in Australia additionally appeared set to dip, with the SPI futures contract at 5,893.0, as in contrast to the S&P/ASX 200’s final shut at 5,899.50.

Data watch

Investor concentrate on Tuesday will doubtless be on Chinese financial data releases for August expected to be out at round 10:00 a.m. HK/SIN. That consists of industrial production, mounted asset funding in addition to retail gross sales.

“China’s economic rebound has been mostly about a jump in industrial activity and a surge in borrowing while the consumer has been the missing piece of the puzzle,” Rodrigo Catril, a foreign money strategist at National Australia Bank, wrote in a observe. “Given this backdrop, market’s attention on China’s activity readings today is likely to be focused on retail sales given the lacklustre bounce to date.” 

The Reserve Bank of Australia can also be set to launch its assembly minutes at round 9:30 a.m. HK/SIN.

Currencies

The U.S. dollar index, which tracks the buck in opposition to a basket of its friends, was at 93.052 after earlier falling beneath 93.0.

The Japanese yen modified arms at 105.73 per greenback after strengthening sharply yesterday from ranges above 105.9 in opposition to the buck. The Australian dollar traded at $0.7284, as in contrast to ranges beneath $0.725 seen final week.

Here’s a have a look at what’s on faucet:

  •  Australia: Reserve Bank of Australia assembly minutes at 9:30 a.m. HK/SIN
  • China: Fixed asset funding, industrial production, retail gross sales data for August at 10:00 a.m. HK/SIN

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