Stocks in Asia Pacific were little changed in Thursday morning trade as investors await the release of a slew of Chinese economic data expected later in the day.
In Japan, the Nikkei 225 dipped 0.32% in early trade while the Topix index was fractionally lower. South Korea’s Kospi shed 0.17%.
Over in Australia, the S&P/ASX 200 hovered above the flatline.
Overall, the MSCI Asia ex-Japan index traded 0.08% lower.
Investors await the release of a set of Chinese economic data, including the country’s second quarter GDP growth rate as well as industrial production for June, expected to be out around 10:00 a.m. HK/SIN. The data releases will be watched for clues on China’s economic recovery from the coronavirus.
Meanwhile, China’s largest chipmaker SMIC is also set to make its widely anticipated debut in Shanghai on Thursday. The contract semiconductor manufacturer is seen as an important player in China’s ambitions to become more self-sufficient when it comes to chips.
Overnight stateside, the Dow Jones Industrial Average saw its fourth straight daily gain as it closed 227.51 points higher at 26,870.10. The S&P 500 was up 0.9% to finish its trading day at 3,226.56. while the Nasdaq Composite gained 0.5% to close at 10,550.49.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 96.005 after earlier declining to levels below 96.
The Japanese yen traded at 106.89 per dollar after strengthening sharply from levels above 107.1 yesterday. The Australian dollar changed hands at $0.6997 following a rise from levels below $0.696 seen earlier in the trading week.
Oil prices dipped in the morning of Asian trading hours, with international benchmark Brent crude futures down 0.34% to $43.64 per barrel. U.S. crude futures also shed 0.46% to $41.01 per barrel.
Here’s a look at what’s on tap:
- China: Second quarter GDP growth rate, Industrial production and fixed asset investment for June at 10:00 a.m. HK/SIN
— CNBC’s Arjun Kharpal contributed to this report.