Asia-Pacific stocks set to dip; China’s retail sales, industrial production data for August ahead


SINGAPORE — Shares in Asia-Pacific looked poised for opening declines following losses overnight on Wall Street.

Futures pointed to a lower open for Japanese stocks. The Nikkei futures contract in Chicago was at 30,230 while its counterpart in Osaka was at 30,160. That compared against the Nikkei 225’s last close at 30,670.10.

Australian stocks also looked set for a lower open, with the SPI futures contract at 7,391.0, against the S&P/ASX 200’s last close at 7,437.30.

Chinese economic data, including retail sales and industrial production for August, is set to be released at 10:00 a.m. HK/SIN on Wednesday.

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Overnight on Wall Street, the Dow Jones Industrial Average dropped 292.06 points to 34,577.57 while the S&P 500 declined 0.57% to 4,443.05. The Nasdaq Composite shed 0.45% to 15,037.76. The losses stateside came despite an inflation reading for August that was weaker than expected.

Currencies

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 92.623 following its recent decline from levels above 92.7.

The Japanese yen traded at 109.72 per dollar, having strengthened yesterday from around 110.1 against the greenback. The Australian dollar changed hands at $0.7314, still struggling to recover after last week’s decline from above $0.74.



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