Asia-Pacific markets are set to open lower as investors await a slew of China data

Asia-Pacific markets are set to open lower as investors await a slew of China data


Night view of the Lujiazui financial district in downtown Shanghai.

Yongyuan Dai | E+ | Getty Images

Asia-Pacific markets were set to open lower Friday as investors brace for a slate of economic data from China.

Australia’s S&P/ASX 200 traded flat at the open.

Japan’s Nikkei 225 futures pointed to a lower open for the market. The futures contract in Chicago was at 38,510 and its counterpart in Osaka last traded at 38,330 compared to the index’s previous close of 38,572.6. 

Hong Kong’s Hang Seng index futures last traded at 19,478, also weaker than the HSI’s previous close of 19,522.89. 

China is slated to report its industrial output and retail sales data for December, as well as fourth quarter GDP numbers. Reuters estimates China’s fourth-quarter GDP growth to come in at 5% year on year, compared with 4.6% in the previous quarter.

Investors will also be looking at Singapore’s non-oil exports data for December.

Overnight in the U.S., the major averages gave up gains from earlier in the day with the S&P 500 slipping to end a three-day winning streak as big tech shares pulled back.

The broad market index slid 0.21% to 5,937.34. The tech-heavy Nasdaq Composite dropped 0.89% to 19,338.29. The Dow Jones Industrial Average fell 68.42 points, or 0.16%, to 43,153.13.

—CNBC’s Hakyung Kim and Sarah Min contributed to this report.



Source

Former Google engineer found guilty of espionage and theft of AI tech
World

Former Google engineer found guilty of espionage and theft of AI tech

The logo for Google LLC is seen at the Google Store Chelsea in Manhattan, New York, Nov. 17, 2021. Andrew Kelly | Reuters A federal jury in San Francisco on Thursday convicted a former Google software engineer of stealing trade secrets related to the search company’s AI technology. The jury found 38 year-old Linwei Ding, […]

Read More
The hottest retail investor picks since the meme stock craze shook up Wall Street
World

The hottest retail investor picks since the meme stock craze shook up Wall Street

Five years ago this week, retail investors launched a meme stock craze that would go on to become a key event in modern market history. The army of online traders began by short-squeezing stocks like GameStop , a move that was later memorialized in the 2023 movie “Dumb Money.” This group also centered focus on […]

Read More
Chevron CEO says Venezuela is taking positive steps to protect private oil investment
World

Chevron CEO says Venezuela is taking positive steps to protect private oil investment

Chevron CEO Mike Wirth said Friday that Venezuela has taken positive steps to protect investment by private oil companies since the Trump administration captured former President Nicolás Maduro. Venezuela on Thursday passed reforms to its hydrocarbon law that ease state control of the oil industry and grants private producers more autonomy. Wirth said Chevron is […]

Read More