Asia-Pacific stocks muted; China’s industrial profits data for April ahead

SINGAPORE — Shares in Asia-Pacific were muted in Thursday morning trade as investors look ahead to the release of Chinese industrial profits data for April.

The Nikkei 225 in Japan slipped 0.19% in early trade while the Topix index declined fractionally. Over in South Korea, the Kospi hovered above the flatline.

Australia’s S&P/ASX 200 was little changed.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.04% lower.

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 and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 90.084 following a recent climb from below 89.7.

The Japanese yen traded at 109.18 per dollar, weaker than levels below 108.9 against the greenback seen yesterday. The Australian dollar was at $0.7738, as compared so levels above $0.777 seen yesterday.

Oil prices were lower in the morning of Asia trading hours, with international benchmark Brent crude futures slipping fractionally to $68.83 per barrel. U.S. crude futures shed 0.11% to $66.14 per barrel.

Here’s a look at what’s on tap:

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

(With Inputs from CNBC)

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