Asia-Pacific markets set to mostly climb as investors await slew of economic data

Asia-Pacific markets set to mostly climb as investors await slew of economic data


The upscale shopping district of Ginza in Tokyo, Japan, on Saturday, May 4, 2024. 

Bloomberg | Bloomberg | Getty Images

Asia-Pacific markets were set to mostly climb Friday as investors await a slew of economic data in the region.

Japan’s benchmark Nikkei 225 is set to open higher with the futures contract in Osaka last trading at 37,150 and the contract in Chicago at 37,055 against the index’s last close of 36,985.87.

Australia’s benchmark S&P/ASX 200 is also set to open higher, with futures standing at 8,388, higher than the index’s last close of 8,348.7.

Futures for Hong Kong’s Hang Seng index stood at 23,492, lower than its last close of 23,544.31.

Investors are parsing South Korea’s PPI figures for April and New Zealand’s retail sales for the first quarter of the year, which came out early Friday.

Japan and Singapore are slated to report inflation data for April, and Taiwan is releasing its industrial output figures later in the day.

U.S. stock futures were little changed as investors continue to evaluate the effect of higher U.S. Treasury yields on the economy. Futures tied to the Dow Jones Industrial Average added 14 points, or 0.03%. Nasdaq 100 futures were marginally lower, while S&P 500 futures ticked up 0.03%.

Overnight stateside, the three major averages closed mixed as investors grappled with fears of rising rates and worries about a ballooning U.S. deficit. The 30-year Treasury yield hit its highest since 2023 as lawmakers passed a bill that investors fear could worsen the U.S. deficit.

The Dow Jones Industrial Average slipped 1.35 points, closing at 41,859.09. The S&P 500 lost 0.04% and ended at 5,842.01, while the Nasdaq Composite advanced 0.28% and settled at 18,925.73.

— CNBC’s Lisa Kailai Han and Yun Li contributed to this report.



Source

Qualcomm beats on earnings, highlights growth in Meta smartglasses
World

Qualcomm beats on earnings, highlights growth in Meta smartglasses

Cristiano Amon, CEO & President, Qualcomm, on Centre Stage during day one of Web Summit 2024 at the MEO Arena in Lisbon, Portugal. Shauna Clinton | Sportsfile | Getty Images Qualcomm reported fiscal third-quarter earnings on Wednesday that beat Wall Street expectations and provided a stronger-than-expected guide for the current quarter. Qualcomm shares slid in […]

Read More
Trump ends de minimis exemption for global low-cost goods
World

Trump ends de minimis exemption for global low-cost goods

A U.S. postal worker delivers Amazon boxes outside of the New York Stock Exchange on Oct. 11, 2018. Spencer Platt | Getty Images President Donald Trump on Wednesday signed an executive order ending the de minimis trade loophole for low-value packages shipped from all countries. The order, which takes effect Aug. 29, will subject any […]

Read More
JPMorgan to enable crypto purchases via credit cards in Coinbase tie-up
World

JPMorgan to enable crypto purchases via credit cards in Coinbase tie-up

Exterior view of JPMorgan Chase & Co. branch on January 14, 2025 in New York City, New York. Kena Betancur | View Press | Corbis News | Getty Images U.S. banking giant JPMorgan partnered with Coinbase on Wednesday to allow customers to fund their wallets using its Chase credit cards and buy cryptocurrency on the exchange starting in […]

Read More