Japan stocks set to decline; Chinese factory activity data for March ahead

  • China's official manufacturing Purchasing Managers' Index (PMI) is expected to be out at around 9:00 a.m. HK/SIN.
  • The yield on the benchmark 10-year Treasury note touched a 14-month high on Tuesday. It later eased from those levels and last sat at 1.71%.

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SINGAPORE — Shares in Japan were set to decline at the Wednesday open as investors in Asia-Pacific watch for the release of Chinese economic data.

Futures pointed to a lower open for Japanese stocks, with the Nikkei futures contract in Chicago at 29,350 while its counterpart in Osaka was at 29,310. That compared against the Nikkei 225's last close at 29,432.70.

Shares in Australia were higher in morning trade, as the S&P/ASX 200 gained 0.86%.

On the economic data front, China's official manufacturing Purchasing Managers' Index (PMI) is expected to be out at around 9:00 a.m. HK/SIN.

Overnight stateside, the Dow Jones Industrial Average fell 104.41 points to close at 33,066.96 while the S&P 500 finished its trading day about 0.32% lower at 3,958.55. The Nasdaq Composite closed 0.11% lower at 13,045.39.

The losses on Wall Street came as the yield on the benchmark 10-year Treasury note touched a 14-month high on Tuesday. It later eased from those levels and last sat at 1.71%.

Currencies

The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 93.297 after rising from levels below 93 earlier in the week.

The Japanese yen traded at 110.32 per dollar as it remained weaker than levels below 109.2 against the greenback seen last week. The Australian dollar changed hands at $0.7603, having slipped from around $0.765 yesterday.

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

  • China: Official manufacturing Purchasing Managers' Index for March at 9:00 a.m. HK/SIN

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