BEIJING (dpa-AFX) - China is scheduled to release a raft of data on Monday, headlining a busy day for Asia-Pacific economic activity. On tap are April figures for industrial production, fixed asset
5/7/2021 5:54:09 AM GMT
Asia Market Update: Asia trades modestly higher after gains on Wall St; China trade data beat ests; US jobs report due later today.
General trend
- Nikkei has remained generally flat [Topix Iron & Steel index rose ahead of earnings from Nippon Steel and JFE; Retail index rises ahead of sales from Fast Retailing; Nintendo declines after results/guidance].
- Shanghai moved modestly higher during the morning session [Banks index rises; IT and Consumer indices lagged].
- Hang Seng extended gain following higher open.
- S&P ASX 200 has risen after the flat open [Resources index outperforms amid record high iron ore prices in China].
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Chinese Data Due On Monday
BEIJING (dpa-AFX) - China is scheduled to release a raft of data on Monday, headlining a busy day for Asia-Pacific economic activity. On tap are February figures for house prices, fixed asset investment, industrial production, retail sales and unemployment.
In January, house prices were up 3.9 percent on year, while FAI rose 2.9 percent, industrial output gained 7.3 percent, retail sales added 4.6 percent and the jobless rate was 5.2 percent.
Japan will provide January figures for core machine orders and its tertiary industry index. Machine orders are tipped to fall 5.5 percent on month and 0.2 percent on year after gaining 5.2 percent on month and 11.8 percent on year in December. The tertiary industry index was down 0.4 percent on month in December.
Asian Shares Retreat On Powell s Inflation Remarks
CANBERA (dpa-AFX) - Asian stocks fell on Friday as treasury yields spiked in reaction to the latest comments from Federal Reserve Chair Jerome Powell that he expects some inflationary pressures in the time ahead.
Chinese Shanghai Composite index fluctuated before finishing marginally lower at 3,501.99 as the country set a conservative economic growth target of above 6 percent for 2021, well below what economists had forecast, and outlined fiscal support to support economic recovery from the coronavirus pandemic.
Hong Kong s Hang Seng index dropped 138.50 points, or 0.47 percent, to 29,098.29 after reports that Beijing plans a major overhaul of the city s electoral system to ensure patriots are in charge.