Asia-Pacific stocks rise; private survey on Chinese services activity in May ahead

Posted on
  • Australia's retail sales data for April is expected at 9:30 a.m. HK/SIN on Thursday.
  • The Caixin/Markit services Purchasing Managers' Index for May is set to be out at 9:45 a.m. HK/SIN on Thursday.

SINGAPORE โ€” Shares in Asia-Pacific rose in Thursday morning trade, ahead of data releases in Australia and China.

In Japan, the Nikkei 225 gained 0.23% while the Topix index advanced 0.38%. South Korea's Kospi edged 0.33% higher.

Shares in Australia also rose, with the S&P/ASX 200 climbing 0.15%.

MSCI's broadest index of Asia-Pacific shares outside Japan traded about 0.1% higher.

On the economic data front, Australia's retail sales data for April is expected at 9:30 a.m. HK/SIN on Thursday.

Looking ahead, a private survey on China's services activity for May is set to be out on Thursday, with the Caixin/Markit services Purchasing Managers' Index expected at 9:45 a.m. HK/SIN on Thursday.

Stocks on Wall Street edged higher overnight stateside. The Dow Jones Industrial Average eked a 25.07 point gain to 34,600.38 while the S&P 500 climbed 0.14% to 4,208.12. The Nasdaq Composite rose 0.14% to 13,756.33.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 89.917 following a recent spike above 90.1.

The Japanese yen traded at 109.59 per dollar, weaker than levels below 109.5 seen against the greenback earlier this week. The Australian dollar changed hands at $0.7743, having climbed from levels around $0.772 yesterday.

Oil prices were lower in the morning of Asia trading hours, with international benchmark Brent crude futures down 0.1% to $71.28 per barrel. U.S. crude futures shed 0.13% to $68.74 per barrel.

Here's a look at what's on tap:

  • Australia: Retail sales and trade data for April at 9:30 a.m. HK/SIN
  • China: Caixin services Purchasing Managers' Index for May at 9:45 a.m. HK/SIN

Source: Read Full Article

Markets