China inflation data, coronavirus, currencies in focus

Michelle K. Wallace

Stocks in Japan were set to open higher on Tuesday, as investors await the release of Chinese inflation data expected to be out later in the day. The Nikkei futures contract in Chicago was at 20,535 while its counterpart in Osaka was at 20,490. That compared against the Nikkei 225’s […]

Stocks in Japan were set to open higher on Tuesday, as investors await the release of Chinese inflation data expected to be out later in the day.

The Nikkei futures contract in Chicago was at 20,535 while its counterpart in Osaka was at 20,490. That compared against the Nikkei 225’s last close at 20,390.66.

Meanwhile, shares in Australia were poised to see a muted open. The SPI futures contract was at 5,459, as compared to the S&P/ASX 200’s last close at 5,461.20.

On the economic data front, China’s inflation data for April is expected on Tuesday, with both the Consumer Price Index and Producer Price Index for the month set to be out around 9:30 a.m. HK/SIN.

Overnight stateside, the Nasdaq Composite saw its sixth straight day of gains, rising 0.78% to close at about 9,192.34. The S&P 500 ended its trading day largely flat at 2,930.32 while the Dow Jones Industrial Average fell 109.33 points to close at 24,221.99.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 100.236 after rising from levels below 100 seen earlier.

The Japanese yen traded at 107.61 per dollar after weakening from levels below 107.4 yesterday. The Australian dollar changed hands at $0.6482 after its decline from levels above $0.654 yesterday.

Here’s a look at what’s on tap for Tuesday:

  • China: Consumer Price Index and Producer Price Index for April at 9:30 a.m. HK/SIN

Source Article

Next Post

Asian stocks set to fall on growing second virus wave fears

NEW YORK (Reuters) – Asian equities and oil prices were set to slip on Tuesday amid growing investor worries about a second wave of coronavirus infections after the Chinese city where the pandemic originated reported its first new cases since its lockdown was lifted. FILE PHOTO: People wearing protective face […]