SINGAPORE – Japan stocks should fall openly on Wednesday as Asia Pacific investors watch for Chinese economic data releases.
Futures indicated a lower open for Japanese stocks, with the Nikkei futures contract trading at 29,350 in Chicago while its Osaka counterpart trading at 29,310. This compared to the Nikkei 225’s last closing price at 29,432.70.
Australian stocks were higher in morning trade as the S & P / ASX 200 gained 0.86%.
In terms of economic data, China’s official manufacturing purchasing managers’ index (PMI) is expected to be released around 9:00 a.m. HK / SIN.
Overnight in the US, the Dow Jones Industrial Average fell 104.41 points to close at 33,066.96 while the S&P 500 closed its trading day down 0.32% to 3,958.55. The Nasdaq Composite closed 0.11% lower at 13,045.39.
The losses on Wall Street came when the yield on the benchmark 10-year Treasury note hit a 14-month high on Tuesday. It later relaxed from those levels and most recently stood at 1.71%.
The US dollar index, which tracks the greenback versus a basket of its peers, was last at 93.297 after rising below 93 earlier in the week.
The Japanese yen was trading at 110.32 per dollar as it remained weaker than 109.2 against the greenback last week. The Australian dollar changed hands at $ 0.7603 after falling from around $ 0.765 yesterday.
Here’s a look at what’s on tap:
- China: Official Manufacturing Purchasing Managers Index for March at 9:00 AM HK / SIN