Asian index futures
signaled further losses for the region’s stocks, with a swathe of data
on China’s economy expected to be the focus of Tuesday trading. The yen
maintained declines following a rebound in some high-yielding
currencies.
New Zealand shares
opened marginally lower, while contracts on Japanese equities
foreshadowed a fourth straight day of losses, after global stocks slid
to their lowest level since July 2013 on Monday, with U.S. markets
closed for a holiday. The yen was steady following a retreat of more
than 0.2 percent with the euro, while Australian 10-year bonds were
little changed for a second day. Brent oil settled at a 12-year low last
session, after breaching $28 a barrel on Iran’s plans to bolster crude
output following the removal of international sanctions. China’s yuan
climbed a third day ahead of the economic data.
China’s slowdown has soured sentiment toward Asian equities since last year’s August rout.
New Zealand’s
S&P/NZX 50 Index dropped 0.2 percent as of 7:36 a.m. Tokyo time,
following Monday’s 1.1 percent decline, while futures on the S&P/ASX
200 Index in Sydney fell 0.6 percent.
In Japan, Nikkei 225
Stock Average futures were down 0.2 percent to 16,830 in Osaka, amid a
0.3 percent rally in yen-denominated index contracts traded in Chicago.
Futures on the Kospi index in Seoul declined 0.3 percent.
Hang Seng Index
futures retreated 0.3 percent in most recent trading, with those on the
Hang Seng China Enterprises Index, a gauge of mainland equities listed
in Hong Kong, signaling a drop of 0.2 percent. The measure slid to its
lowest level since October 2011 on Monday. FTSE China A50 Index futures
gained 1 percent following a 0.4 percent climb in the Shanghai Composite
Index last session.
As well as the Chinese
data dump, investors are bracing for an update on Japanese machine tool
orders and the Hong Kong jobless rate. Trading in Treasuries will
resume as American markets restart following the public holiday.
Source: Bloomberg
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