SCTL - Asia-Pacific stocks rebound following broad sell-off eyes on key economic data
2023-12-06 02:42:19 ET
Japan ( NKY:IND ) +2.04% . The Reuters Tankan sentiment index for manufacturers in Japan jumped to +12 in December 2023 from +6 in November, improving for the second straight month.
China ( SHCOMP ) -0.09% . Investors now look ahead to Chinese trade figures and the latest inflation report later this week for further guidance.
Markets also look ahead to a Politburo meeting and the annual Central Economic Work Conference where Chinese authorities are expected to discuss policy plans and set economic targets for 2024.
Hong Kong ( HSI ) +0.72% .
India ( SENSEX ) +0.47% . Traders anticipated the RBI's monetary policy decision on Thursday, with the market expecting the central bank to hold interest rate at 6.5% for the fifth consecutive meeting.
Australia ( AS51 ) +1.65% . Australian Q3 GDP +0.2% q/q (vs. expected +0.4%).
The Ai Group Industry Index for the Australian manufacturing sector declined by 4.4 points to -25.3 in November 2023.
In the U.S. on Tuesday, all three major indexes ended mixed , as investors digested new economic data. Job openings in the US came below expectations and reached the lowest level since March 2021, a sign the labour market is cooling. Meanwhile, the ISM Services PMI topped forecasts and continued to point to a resilient services sector.
U.S. stock futures rose on Wednesday after the major averages ended mixed during Tuesday’s regular session: Dow +0.13% ; S&P 500 +0.26% ; Nasdaq +0.38% .
Market participants now await US jobs data due Friday that could alter expectations that the Federal Reserve will cut interest rates early next year.
Currencies: ( JPY:USD ), ( CNY:USD ), ( AUD:USD ), ( INR:USD ), ( HKD:USD ), ( NZD:USD ).
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Asia-Pacific stocks rebound following broad sell-off, eyes on key economic data