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Asia-Pacific markets set to fall after negative lead from Wall Street; China factory activity data ahead

Soegeefx AppsAsia MarketAsia-Pacific markets set to fall after negative lead from Wall Street; China factory activity data ahead

Futures in the Asia-Pacific were set to fall in Wednesday trade following a negative lead from Wall Street, and as investors look ahead to the release of China’s factory activity data.

The Nikkei futures contract in Chicago and its counterpart in Osaka were both at 27,920. That’s lower compared with the Nikkei 225′s Tuesday close at 28,195.58.

In Australia, SPI futures were at 6,860, lower than the S&P/ASX 200 ′s last close at 6998,3.

Analysts in a Reuters poll expect China’s official manufacturing Purchasing Managers’ Index for August will come in at 49.2. The PMI in July was 49.

PMI readings are sequential and represent month-on-month expansion or contraction. The 50-point mark that separates growth from contraction.

TICKER COMPANY NAME PRICE CHANGE %CHANGE
.N225 Nikkei 225 Index *NIKKEI 27918.51 -277.07 -0.98
.HSI Hang Seng Index *HSI 19949.03 0 0
.AXJO S&P/ASX 200 *ASX 200 6965.3 -33 -0.47
.SSEC Shanghai *SHANGHAI 3227.22 0 0
.KS11 KOSPI Index *KOSPI 2432.91 -18.02 -0.74
.FTFCNBCA CNBC 100 ASIA IDX *CNBC 100 7963.24 -56.45 -0.7

Overnight on Wall Street, major stock indexes fell for a third straight session.

The S&P 500 dipped 1.1% to 3,986.16, falling below the 4,000 level for the first time since July. The Nasdaq Composite dropped 1.1%, to close at 11,883.14, and the Dow Jones Industrial Average shed 308.12 points, or nearly 1%, to 31,790.87.

“Equity markets continued to be impacted by expectations central banks will keep their foot on the accelerator in terms of rate hikes,” Brian Martin and Daniel Hynes of ANZ Research wrote in a note Wednesday.

Source : CNBC

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