Buyers count on China’s GDP within the second quarter

SINGAPORE – Asia Pacific stocks are likely to start lower on Thursday as investors watch the release of economic data in Australia and China.

Futures indicated a lower open for Japanese stocks. The Chicago Nikkei futures contract was 28,530 while its Osaka counterpart was 28,520. This compared to the Nikkei 225’s last closing price at 28,608.49.

Australian stocks also seemed poised for a negative start, with the SPI futures contract at 7,260.0 versus the last closing price of the S & P / ASX 200 at 7,354.70.

Australian job dates for June are expected at 9:30 am HK / SIN on Thursday.

China’s economic data – including Q2 GDP pressures and June retail sales – is expected to be released at 10:00 a.m. HK / SIN.

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The US dollar index, which tracks the greenback versus a basket of its competitors, hit 92.41 after falling over 92.7 recently.

The Japanese yen was trading at 109.98 per dollar, stronger than levels above 110.4 seen against the greenback earlier in the week. The Australian dollar changed hands at $ 0.748 after rebounding from around $ 0.744 yesterday.

Here’s a look at what’s on tap:

  • Australia: June job dates at 9:30 am HK / SIN
  • China: Second quarter GDP printing data, retail sales, and industrial production data for June at 10:00 AM HK / SIN

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