Asia-Pacific markets were set for a lower start as investors await the release of China’s manufacturing activity data for September.
Futures pointed to an opening decline for stocks in Japan. The Nikkei futures contract in Chicago at 23,510 while its counterpart in Osaka was at 23,430, as compared to the Nikkei 225’s last close at 23,539.10.
Shares in Australia also looked set to dip, with the SPI futures contract at 5,879.0, as compared to the S&P/ASX 200’s last close at 5,952.10.
Markets in South Korea are closed Wednesday for a holiday.
On the economic data front, China’s official manufacturing Purchasing Managers’ Index (PMI) for September is expected to be out at around 9:00 a.m. HK/SIN. The Caixin/Markit manufacturing PMI for September is also set to be released at around 9:45 a.m. HK/SIN. The data releases will be watched by investors for further clues on the Chinese economy’s recovery from the coronavirus pandemic.
In coronavirus developments, Regeneron said its REGN-COV2 drug reduced viral levels and improved symptoms in non-hospitalized coronavirus patients.
Overnight on Wall Street, the major averages snapped a three-day winning streak. The Dow Jones Industrial Average closed 131.40 points lower, or 0.5%, at 27,452.66. The S&P 500 also shed 0.5% to end its trading day at 3,335.47 while the Nasdaq Composite slid 0.3% to close at 11,085.25.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 93.891 following its decline this week from levels above 94.4.
The Japanese yen traded at 105.65 per dollar, still off levels below 105.5 against the greenback seen earlier this week. The Australian dollar changed hands at $0.7144 after rising from levels below $0.707 this week.
Here’s a look at what’s on tap:
- China’s official manufacturing Purchasing Managers’ Index for September at 9:00 a.m. HK/SIN
- Caixin/Markit manufacturing PMI for China for September at 9:45 a.m. HK/SIN
— CNBC’s Fred Imbert contributed to this report.