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With the World Bank warning on an uncertain future for expansion in international trade, you’d almost think there was some sort of nationalism-fuelled protectionist sentiment spreading across the globe at an alarming rate, or something.
It’s not like the US is ramping up a crackdown on undocumented immigrants, or American exporters are lining up behind a levy on importers, or a hardliner is stirring up Australia’s immigration debate, or millions of expats are caught in a Brexit no man’s land, or a far-right candidate is a serious contender for France’s presidency, right?
In any case, Asian equities markets seem unperturbed. Futures tip Sydney’s S&P/ASX 200 index and Tokyo’s Topix index to open 0.5 per cent higher, while in Hong Kong the Hang Seng index is expected to open 0.4 per cent higher.
Corporate earnings reports out today include Woolworths, Sky Network TV, Sino Land, Genting Singapore, Esprit Holdings, and Hysan Development.
The economic calendar for Wednesday starts and ends with a bang, and not a whole lot in between (all times Hong Kong):
- 09.30: China property prices for 70 major cities
- 12.00: Malaysia consumer price inflation
- 16.30: Hong Kong Q4 GDP