Fast Asia Open: Japan machine orders, Australia home loans

Despite an upbeat trading day for stocks, futures were hit after the closing bell on Tuesday by a report that the US was preparing to release its list of an additional $200bn in Chinese goods it will hit with tariffs.

S&P 500 futures fell 0.5 per cent, while Dow Jones Industrial Average futures were off 0.7 per cent. Nasdaq 100 futures also stumbled, shedding 0.5 per cent.

US stocks had racked up four winning sessions in a row as concerns about the Trump administration’s trade moves faded into the background and investors looked forward to what is tipped to be a strong round of earnings reports.

Also overnight, the pound moved back above the flatline, rising from intraday losses that followed weak economic data, as investors bet that the cabinet accord on Brexit will survive two senior ministerial departures.

Futures tipped Tokyo’s Topix to add 0.2 per cent and the Hang Seng in Hong Kong to fall 0.1 per cent. The economic calendar for Wednesday (all times Hong Kong): 

  • 07.50: Japan corporate goods prices, core machine orders 
  • 09.30: Australia home loans, consumer confidence 
  • 11.30: South Korea employment data, money supply 
  • 15.00: Malaysia monetary policy announcement 
  • Also scheduled for Wednesday, Japanese Prime Minister Shinzo Abe is set to meet with European Council President Donald Tusk and European Commission President Jean-Claude Juncker in Brussels while South Korea’s President Moon Jae-In visits Singapore.
The Financial Times Limited 2018. All rights reserved.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *