Asia markets poised for fall ahead of trade data from China and Australia
A view of the automated container port in Qingdao in east China’s Shandong province.
Zhang Jingang | Future Publishing | Getty Images
Asia-Pacific markets are set to fall Thursday, mirroring moves on Wall Street and ahead of trade data from China and Australia.
Chinese imports and exports for August are forecasted to fall 9.2% and 9% year-on-year, respectively, according to a poll of economists by Reuters, which is smaller than the 14.5% and 12.4% drops in July.
In Australia, futures for the S&P/ASX 200 point to a lower open, at 7,196 compared with the last close of 7,257.1.
Japan’s Nikkei 225 is also set to fall and snap a eight-day winning streak, with the futures contract in Chicago at 33,120 and its counterpart in Osaka at 33,140 against the index’s last close of 33,241.02.
Futures for Hong Kong’s Hang Seng index were mostly flat and stood at 18,449, compared with the HSI’s close of 18,449.98.
Overnight in the U.S., all three major indexes saw a sell off as concerns mounted that the Federal Reserve may not be done hiking interest rates.
The Dow Jones Industrial Average sank 0.57%, while the S&P 500 dropped 0.7%. The Nasdaq Composite saw the largest loss, falling 1.06%.
— CNBC’s Samantha Subin and Alex Harring contributed to this report
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