SINGAPORE — Stocks in Japan were set to trade lower at the open following an overnight tumble on Wall Street.
Futures pointed to a lower open for shares in Japan. The Nikkei futures contract in Chicago was at 23,415 while its counterpart in Osaka was at 23,390. That compared against the Nikkei 225’s last close at 23,494.34.
Meanwhile, stocks in Australia slipped in early trade, with the S&P/ASX 200 down around 0.9%.
On the economic data front, South Korea’s real gross domestic product grew 1.9% in the third quarter as as compared to the previous quarter, according to an advance estimate released Tuesday by the Bank of Korea.
Looking ahead, China’s industrial profits for September are set to be out at around 9:30 a.m. HK/SIN on Tuesday.
Shares of Alibaba in Hong Kong will be watched on Tuesday after Chinese technology giant’s affiliate, Ant Group, set the price for its shares on Monday. Ant Group’s upcoming dual initial public offering in Shanghai and Hong Kong is set to be the biggest listing of all time.
On the earnings front, HSBC is set to announce its results for the third quarter on Tuesday.
Investor sentiment in Asia-Pacific may take a hit from the sharp overnight declines on Wall Street amid a jump in coronavirus infections. Optimism is also fading over the White House striking a stimulus deal with Democrats before the elections.
Overnight stateside, the Dow Jones Industrial Average closed 650.19 points lower, or 2.3%, at 27,685.38. The S&P 500 fell 1.9% to finish its trading day at 3,400.97 while the Nasdaq Composite dipped 1.6% to close at 11,358.94.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 93.045 after last week’s decline from levels above 93.2.
Here’s a look at what’s on tap:
- China: Industrial profits for September at 9:30 a.m. HK/SIN