Asia-Pacific stocks mixed; China's August industrial production data expected


SINGAPORE — Stocks in Asia-Pacific were mixed in Tuesday morning trade as investors await the release of a slew of Chinese economic data expected later in the day.

In Japan, the Nikkei 225 slipped 0.43% while the Topix index shed 0.51%. South Korea’s Kospi, on the other hand, advanced 0.29%.

Over in Australia, the S&P/ASX 200 gained 0.24%.

Overall, the MSCI Asia ex-Japan index traded 0.1% higher.

Data watch

Investor focus on Tuesday will likely be on Chinese economic data releases for August expected to be out at around 10:00 a.m. HK/SIN. That includes industrial production, fixed asset investment as well as retail 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 currency strategist at National Australia Bank, wrote in a note. “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 is also set to release its meeting minutes at around 9:30 a.m. HK/SIN.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 93.049 after earlier falling below 93.0.

The Japanese yen changed hands at 105.67 per dollar after strengthening sharply yesterday from levels above 105.9 against the greenback. The Australian dollar traded at $0.7284, as compared to levels below $0.725 seen last week.

Oil prices were higher in the morning of Asian trading hours, with international benchmark Brent crude futures up 0.28% to $39.72 per barrel. U.S. crude futures also gained 0.27% to $37.36 per barrel.

READ  TANKERS: Separate anti-piracy payments shelved as Asia's MR rates hit new lows

Here’s a look at what’s on tap:

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



READ SOURCE

LEAVE A REPLY

Please enter your comment!
Please enter your name here