Investors look ahead to data on service activity in China

0
204

SINGAPORE – Asia Pacific stocks looked ready for a mixed Friday start as investors look to the release of a private survey of China’s service sector activity in August.

Futures indicated a higher open for Japanese stocks. The Nikkei futures contract in Chicago was at 28,630 while its Osaka counterpart was at 28,640. This is compared to the Nikkei 225’s last closing price at 28,543.51.

Australian stocks appeared poised for a muted opening, with the SPI futures contract trading at 7,479, up from the S&P / ASX 200’s last closing price at 7,485.70. Australian July retail sales data is expected to be released at 9:30 am HK / SIN.

Looking ahead, the Caixin / Markit Services purchasing managers’ index is expected at 9:45 a.m. HK / SIN.

As the company develops, investors will watch Alibaba’s Hong Kong-listed shares after the company reportedly plans to invest 100 billion yuan (about $ 15.5 billion) in “common prosperity” by 2025.

CNBC Pro’s Stock Picks and Investment Trends:

Overnight, the Dow Jones Industrial Average rose 131.29 points to 35,443.82 while the S&P 500 climbed 0.28% to 4,536.95. The Nasdaq Composite rose 0.14% to 15,331.18.

Those Wall Street gains preceded the August US employment report due to be released Friday at 8:30 a.m. ET.

Currencies

The US dollar index, which tracks the greenback versus a basket of its peers, came in at 92.225 – a level above 92.7 hit earlier this week.

The Japanese yen was trading at 109.95 per dollar, still stronger than the 110.4 levels seen against the greenback earlier this week. The Australian dollar changed hands at $ 0.7401 after rising below $ 0.732 earlier in the week.