Stocks in Asia traded mixed on Thursday morning as investors await the release of U.S. jobless claims data expected later in the day stateside.
Meanwhile, the S&P/ASX 200 in Australia rose about 1.4% in morning trade.
Overall, the MSCI Asia ex-Japan index traded 0.13% higher.
Investors will await the release of U.S. initial jobless claims data, expected to be out around 8:30 p.m. HK/SIN on Thursday, which could provide clues to the economic impact of the coronavirus pandemic.
“We are now starting to get data prints that should begin the capture the new reality, on that score tonight’s US Jobless claims is the big data release,” Rodrigo Catril, senior foreign exchange strategist at National Australia Bank, wrote in a note.
“The US jobless claims figures for the week ending 21 March is expected to be very big, last week’s claims printed at 281k and the median estimate for the 21 March number is 1.5m,” Catril said. “There is a wide range of estimates out there — a couple of estimates as high as 4m and over a third of economist estimates above 2m.”
Overnight stateside, the Dow Jones Industrial Average rose 495.64 points to close at 21,200.55 while the S&P 500 ended its trading day 1.1% higher at 2,475.56. The Nasdaq Composite, however, dipped 0.5% to close at 7,384.30.
The U.S. dollar index, which track the greenback against a basket of its peers, was last at 100.937 after seeing levels above 102 earlier in the week.
Here’s a look at what’s on tap in the trading day ahead:
- Singapore: Industrial production data for February at 1:00 p.m. HK/SIN