Asia stocks set for mixed open; China's industrial profits data for April ahead


SINGAPORE — Shares in Asia-Pacific looked set for a mixed start on Thursday as investors look ahead to the release of Chinese industrial profits data for April.

Futures pointed to a lower open for Japanese stocks. The Nikkei futures contract in Chicago was at 28,585 while its counterpart in Osaka was at 28,620. That compared against the Nikkei 225’s last close at 28,642.19.

Shares in Australia looked poised to start little changed. The SPI futures contract sat at 7,093, versus the S&P/ASX 200’s last close at 7,092.50.

China is expected to report its industrial profits data for April at around 9:30 a.m. HK/SIN on Thursday.

In corporate developments, investors will watch shares of Xiaomi in Hong Kong after the Chinese smartphone maker on Wednesday reported a nearly 55% surge in its first quarter revenue as compared with the same period a year earlier.

Overnight on Wall Street, the Dow Jones Industrial Average gained 10.59 points to 34,323.05 while the S&P 500 edged 0.19% higher to 4,195.99. The Nasdaq Composite rose 0.59% to 13,738.

Currencies

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 90.042 following a recent climb from below 89.7.

The Japanese yen traded at 109.13 per dollar, weaker than levels below 108.9 against the greenback seen yesterday. The Australian dollar was at $0.774, as compared so levels above $0.777 seen yesterday.

Here’s a look at what’s on tap:

  • China: Industrial profits for April at 9:30 a.m. HK/SIN



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