Investors in Asia are expected to focus on a barrage of economic data releases out of China on Thursday, following up on the Dow Jones industrial average closing above the 23,000 level for the first time.
Robust quarterly earnings reports propelled the Dow’s close above the 23,000 level for the first time. On Wednesday, the index closed up 0.7 percent, or 160.16 points, to end at 23,157.60. The Dow first cracked the 23,000 mark on Tuesday, but had closed just under that level.
Other major U.S. indexes notched slight gains: The S&P 500 added 0.07 percent, or 1.9 points, to close at 2,561.26 and the Nasdaq was little changed on the day, closing up 0.01 percent at 6,624.22.
Yields on U.S. Treasury notes rose overnight following economic releases, including the Federal Reserve’s Beige Book, stateside. The yield on the 10-year Treasury note rose to 2.3447 percent.
Meanwhile, yields on the 2-year Treasury bill touched their highest levels in around 10 years, supported by comments from New York Fed President William Dudley that the central bank was on course to meeting its interest rate forecast for 2017.
In currencies, the dollar index, which tracks the greenback against a basket of six currencies, edged down to 93.423 at 6:36 a.m. HK/SIN compared to a high of 93.797 earlier in the session. Against the Japanese currency, the dollar strengthened to trade at 113.
Back in Asia, futures suggested a higher open for the Nikkei 225, which has closed up for the last 12 consecutive sessions. Nikkei futures traded in Chicago were up 0.52 percent at 21,475 and Osaka futures were 0.41 percent higher at 21,450. Those were above the benchmark index’s last close of 21,363.05.
Down Under, the S&P/ASX 200 was up 0.18 percent in early trade.
India markets are closed for a public holiday.
Ahead, China data releases will be in focus during the day as markets keep an eye on developments from the ongoing 19th Communist Party Congress in Beijing.
The economic calendar today is fairly heavy (all times HK/SIN):
- 7:50 a.m.: Japan September trade balance
- 8:30 a.m.: Australia September employment data
- 10:00 a.m.: China third-quarter GDP
- 10:00 a.m.: China September industrial production, retail sales and fixed asset investment
Central banks in South Korea and Indonesia are also expected to make interest rates decisions today at 9:00 a.m. and 5:00 p.m., respectively.
On the energy front, oil prices were slightly higher overnight. Brent crude settled up 27 cents at $58.15 a barrel and U.S. crude futures added 16 cents to settle at $52.04.
Source: cnbc china
Asia markets await China data after Dow closes above 23,000 for the first time