Global Markets Anticipate China Trade and Japan Pay Data
Asia-Pacific Markets on Edge Ahead of Crucial Economic Releases
Asia-Pacific markets embarked on a mixed trading session on Thursday as the release of China’s April trade data and Japan’s pay statistics looms. The news will provide crucial insights into the region’s economic health.
China’s Trade Outlook
Economists, as surveyed by Reuters, forecast a positive 1.5% rise in China’s exports, a welcomed departure from the 7.5% downturn in March. Imports, too, are anticipated to witness a 4.8% annual growth rate in April, a significant improvement from the 1.9% fall noted in March.
Japan’s Pay Statistics
Japanese investors will be closely scrutinizing pay statistics for signs of the Bank of Japan’s envisioned “virtuous cycle” of wage and price increases.
Individual Market Performances
- Japan: The Nikkei 225 gained 0.15%, while the broader Topix advanced 0.29%.
- South Korea: The Kospi slipped 0.21% after reaching a one-month high, and the Kosdaq dropped 0.13%.
- Australia: The ASX 200 edged down by 0.23%.
- Hong Kong: Futures for the Hang Seng index pointed towards a dip at the opening bell.
U.S. Markets Recap
Overnight in the United States, the Dow Jones Industrial Average achieved a six-day winning streak, shrugging off a slight tech sector weakness. The Dow climbed 0.44%, the most extended run of positive performances in 2024. However, the S&P 500 slipped marginally, while the Nasdaq Composite retreated 0.18%.
Fed Commentary on Interest Rates
Investors are also weighing recent statements from Federal Reserve officials. Boston Fed President Susan Collins expressed the likelihood of maintaining the current interest rate policy until inflation moves “sustainably” towards their 2% target. The Fed’s stance on interest rates will significantly impact the global economic outlook.
Data sourced from: cnbc.com
