Asia-Pacific stocks set to slide; investors await Chinese industrial profits data for August

SINGAPORE — Shares in Asia-Pacific looked set to trade lower at the Monday open, with China’s industrial profits data for August set to be out later in the day.

Futures pointed to a lower open for Japanese stocks. The Nikkei futures contract in Chicago was at 30,155 while its counterpart in Osaka was at 30,040. That compared against the Nikkei 225’s last close at 30,248.81.

Australian stocks also looked poised to slip, with the SPI futures contract at 7,304, against the S&P/ASX 200’s last close at 7,342.60.

Chinese industrial profits data for August is set to be released at 9:30 a.m. HK/SIN on Monday.

Investors will also continue to watch for developments surrounding China Evergrande Group, as the embattled developer continued to stay silent on its $83 million dollar bond interest payment that was due Thursday.

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Elsewhere, early projections on Sunday pointed to a knife-edge result in Germany federal elections as the country looks for a successor to Angela Merkel, who is preparing to leave office after 16 years in power.

The euro last sat at $1.172, following its bounce last week from below $1.17.


The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 93.292 following its climb late last week from below 93.2.

The Japanese yen traded at 110.74 per dollar, having weakened last week from below 110 against the greenback. The Australian dollar changed hands at $0.7262 following its slide late last week from above $0.729.


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