Fast Asia Open: China PMIs, SCOTUS nomination
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After a mediocre day on Wall Street, will Asian markets put another nail in the “Trump trade” coffin as Hong Kong’s bourse returns from a long holiday?
The broader S&P 500 closed Tuesday lower for a fourth straight session, down 0.1 per cent, while the price-focused Dow Jones Industrial Average dropped for its third straight session with a fall of 0.5 per cent.
In Asian equities, Australia’s S&P/ASX 500 Index is down 0.2 per cent, while futures tip Tokyo’s Topix Index to drop 0.1 per cent at the open and Hong Kong’s Hang Seng Index is set to start the morning session down by the same amount. Markets in China and Taiwan remain closed for the lunar new year holiday.
With investors still ruffled by recent executive orders issued from the White House, President Donald Trump’s nominee for US Supreme Court justice – due to be announced at 09.00 Hong Kong time – could provide another jolt to markets.
Corporate earnings out on Wednesday include Takeda Pharmaceutical (14.00), Casio Computer (14.00), Hitachi (14.15) and Capcom (14.20).
The economic calendar is robust (all times Hong Kong):
- 08.00: South Korea imports, exports, trade balance
- 08.30: Japan Nikkei manufacturing PMI (final)
- 08.30: South Korea Nikkei manufacturing PMI
- 09.00: China manufacturing and non-manufacturing PMIs
- 10.30: Thailand consumer price inflation
- 13.00: India Nikkei manufacturing PMI
- 13.00: Japan vehicle sales
- 13.30: Australia Commodity Index
- Also due out today: Indonesia consumer inflation and Macau casino revenues