Asia Pacific stocks set to trade mixed; private survey of Chinese manufacturing activity ahead

Stocks in Asia Pacific were set to trade mixed at the open on Wednesday as the second half of 2020 kicks off.

Futures pointed to  higher open for stocks in Japan, with the Nikkei futures contract in Chicago at 22,385 while its counterpart in Osaka was at 22,310. That compared against the Nikkei 225’s last close at 22,288.14.

Over in Australia, shares were set to dip. The SPI futures contract was at 5,885, as compared to the S&P/ASX 200’s last close at 5,897.90.

Markets in Hong Kong are closed for trading on Wednesday for a holiday.

Investors on Wednesday will await the release of a private survey of Chinese manufacturing activity in June, with the Caixin/Markit Manufacturing Purchasing Manager’s Index (PMI) expected to be out around 9:45 a.m. HK/SIN. The official manufacturing PMI released Tuesday showed factory activity in China expanding in June.

The Bank of Japan’s quarterly Tankan survey is also set to be out at around 7:50 a.m. HK/SIN on Wednesday.

Overnight on Wall Street, the Dow Jones Industrial Average surged 217.08 points, or 0.9%, to close at 25,812.88. The S&P 500 gained 1.5% to end its trading day day at 3,100.29 and the Nasdaq Composite advanced 1.9% to close at 10,058.77. The Tuesday moves stateside left markets wrapping up their best quarterly performance in decades

The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 97.391 after falling from levels above 97.5 seen earlier.

The Japanese yen traded at 107.98 per dollar following its weakening from levels below 107.5 earlier in the trading week. The Australian dollar changed hands at $0.6902 after rising from levels below $0.685 yesterday.

Here’s a look at what’s on tap:

  • China: Caixin/Markit Manufacturing Purchasing Manager’s Index at 9:45 a.m. HK/SIN
  • Japan: Bank of Japan’s Tankan survey at 7:50 a.m. HK/SIN