SHANGHAI, CHINA – MARCH 1: Skyscrapers stand in Lujiazui Financial District, Pudong, Shanghai, China on March 1, 2022.
Xiao Yang | Visual China Group | Getty Images
Asia-Pacific markets were set to fall on Monday as investors looked ahead to key economic data from China, including second-quarter gross domestic product and June industrial output.
last week, a Reuters poll says While gross domestic product is expected to grow 7.3 percent year-on-year, it is from a low base and “momentum (the recovery) is fading rapidly, raising expectations that Beijing will have to roll out more stimulus measures soon.”
Hong Kong’s Hang Seng is expected to open lower after five straight days of gains last week, with futures at 19,319, compared with last close of 19,413.78.
In Australia, futures S&P/ASX 200 Index It closed at 7,264, below the index’s last close of 7,303.1. The country is due to release unemployment data later this week, which will provide clues to the Reserve Bank of Australia’s interest rate decision.
Elsewhere, Japanese markets were closed for a holiday, but South Korea, Singapore and Indonesia were due to release more trade data.
U.S. markets were mixed on Friday, with the Dow Jones Industrial Average hitting its highest level since March as strong earnings results from some of the biggest banks and companies kicked off the earnings season.
However, the S&P 500 fell 0.10% and the Nasdaq Composite fell 0.18%, but both indexes hit their highest intraday levels since April 2022.
— CNBC’s Hakyung Kim and Tanya Macheel contributed to this report