Asia markets set for mixed open ahead of key data from Japan and China
Pedestrians cross an intersection in the Shibuya district of Tokyo, Japan, on Tuesday, April 25, 2023. Photographer: Kentaro Takahashi/Bloomberg via Getty Images
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Asia-Pacific markets are set for a mixed open on Tuesday ahead of key economic data out from Japan and China.
Japan will release its second quarter gross domestic product, while China will see its industrial output and retail sales figures for July.
Japan’s Nikkei 225 is set for a positive open, with the futures contract in Chicago at 32,365 and its counterpart in Osaka at 32,290 against the index’s last close of 32,059.91.
Expectations from economists polled by Reuters were Japan’s economy will grow 0.8% on a quarter on quarter basis and 3.1% on an annualized basis.
Futures for Hong Kong’s Hang Seng index stood at 18,680, pointing to a weaker open compared to the HSI’s close of 18,773.55. Hong Kong looks set to extend losses for a third straight day, after the HSI slid 1.58% on Monday.
In Australia, futures for the S&P/ASX 200 also point to a lower open, at 7,219 compared to the last close of 7,277. Investors will be watching the Reserve Bank of Australia’s minutes for its August monetary policy meeting, where it unexpectedly held its benchmark rates at 4.1%.
Overnight in the U.S., all three major indexes gained, with the S&P 500 and the Nasdaq Composite rebounding due to a rebound in chip stocks and tech names.
The broad market index added 0.58%, while the tech-heavy Nasdaq gained 1.05%. Meanwhile, the Dow Jones Industrial Average advanced by 0.07%.
— CNBC’s Hakyung Kim and Jesse Pound contributed to this report
