Insightful News

We are an addiction for those who love reading.

Insightful News

China economic data in focus

In Asia, futures tipped Australian equities to open lower. SPI futures were off 1.06 percent at 5,704 compared to the benchmark index’s Friday close of 5,765.119.

Japan markets were closed for Marine Day.

Ahead, investors anticipated a barrage of China economic data due at 10:00 a.m. HK/SIN. That included second-quarter GDP, industrial production, retail sales and fixed asset investments.

The world’s second-largest economy grew 6.9 percent in the first quarter of the year compared to a year earlier, above the 6.8 percent forecast.

Also on the economic calendar, Singapore June non-oil exports (NODX) data is due.

In the U.S., stocks closed higher on Friday. JPMorgan Chase, Citigroup and Wells Fargo kicked off earnings season by posting better-than-expected earnings.

The Dow Jones industrial average rose 0.39 percent, or 84.65 points, to close at 21,637.74 and the S&P 500 advanced 0.47 percent, or 11.44, to close at 2,459.27. Both indexes finished the session at record levels. The Nasdaq gained 0.61 percent, or 38.03 points, to end at 6,312.46.

In commodities, oil prices settled higher by around 1 percent last Friday. Brent crude futures rose 49 cents to settle at $48.91 a barrel and U.S. West Texas Intermediate crude futures gained 46 cents to settle at $46.54.

In currencies, the Australian dollar traded at $0.7820 at 6:57 a.m. HK/SIN after climbing for five straight sessions last week.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *