TAK - Asia-Pacific stocks tracking losses among global peers eyes on key jobs data
2023-12-07 03:04:44 ET
Japan ( NKY:IND ) -1.76%. The index of coincident economic indicators in Japan, which covers a range of data, such as factory output, employment, and retail sales, ticked higher to 115.9 in October 2023 from an upwardly revised 115.7 in the prior month.
Investors also cautiously awaited a slew of Japanese data on Friday, including final GDP and household spending figures.
China ( SHCOMP ) -0.09% . China's trade surplus increased to $68.39 billion in November 2023 from $66.49 billion in the same period the previous year.
Market sentiment also took a hit after Moody’s put Chinese state-owned firms and banks on downgrade warnings on Wednesday, a day after it cut the outlook for the country’s government credit ratings.
Hong Kong ( HSI ) -1.01%.
India ( SENSEX ) -0.14%. Traders anticipated the RBI's monetary policy decision on Friday, with the market expecting to keep interest rates for the fifth straight meeting.
Australia ( AS51 ) -0.07%. Australia posted a trade surplus on goods of AUD 7.13 billion in October 2023, compared to market forecasts of AUD 7.5 billion, widening from a downwardly revised AUD 6.18 billion in September, as exports grew while imports fell.
In the U.S. on Wednesday, all three major indexes ended in the red , pressured by declines in energy stocks and some megacaps shares.
Meanwhile, fresh data showed signs of a cooling US labor market, as the ADP report indicated fewer-than-expected job additions in November and lower-than-anticipated labor costs in Q3.
U.S. stock futures were little changed on Thursday after the major averages tumbled during Wednesday’s regular session: Dow flat; S&P 500 -0.04%; Nasdaq -0.02%.
Traders braced for a key US monthly jobs report that could provide clues on the future path of interest rates and markets also keenly await the FOMC meeting next week, with bets gravitating toward monetary easing in 2024 following soft economic data recently.
Elsewhere, traders ramped up bets that the European Central Bank would also cut rates in March following dovish remarks from central bank officials.
Currencies: ( JPY:USD ), ( CNY:USD ), ( AUD:USD ), ( INR:USD ), ( HKD:USD ), ( NZD:USD ).
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Asia-Pacific stocks tracking losses among global peers, eyes on key jobs data