Breaking News

Asia-Pacific stocks mixed as investors await China’s first quarter GDP print

SINGAPORE — Shares in Asia-Pacific were mixed in Friday morning trade as investors await the release of Chinese economic data.

Mainland Chinese stocks were higher as the Shanghai composite gained 0.3% while the Shenzhen component advanced 0.158%. Hong Kong’s Hang Seng index was little changed.

A slew of Chinese economic data — including the country’s first quarter gross domestic product and industrial production for March — is expected to be out at around 10:00 a.m. HK/SIN on Friday.

The Nikkei 225 in Japan rose 0.12% while the Topix index dipped 0.1%. South Korea’s Kospi was fractionally lower.

Australian stocks slipped as the S&P/ASX 200 declined 0.12%.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.12% lower.

Investors will watch markets in India on Friday as the Covid situation in the country remains severe, with data released Thursday showing daily virus infections crossing the 200,000 mark.

Overnight stateside, the Dow surged 305.10 points to a record close of 34,035.99 — the first time it has crossed the 34,000 level. The S&P 500 also reached a record high, jumping 1.11% to 4,170.42. The Nasdaq Composite climbed 1.31% to 14,038.76.

The U.S. dollar index, which tracks the greenback against a basket of its peers, sat at 91.772 following its weakening earlier this week from above 92.1.

The Japanese yen traded at 108.86 per dollar, having strengthened from levels above 109.6 against the greenback earlier in the trading week. The Australian dollar changed hands at $0.7731, above levels below $0.768 seen earlier this week.

Oil prices were mildly lower in the morning of Asia trading hours, with international benchmark Brent crude futures sitting below the flatline as they traded at $66.92 per barrel. U.S. crude futures shed about 0.1% to $63.40 per barrel.

Here’s a look at what’s on tap:

  • China: First quarter GDP, industrial production and retail sales for March at 10:00 a.m .HK/SIN

Leave a Reply

Your email address will not be published.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