SINGAPORE — Stocks in Asia-Pacific were lower in Wednesday morning trade, as investors await a speech from Chinese President Xi Jinping.
In Japan, the Nikkei 225 slipped 0.23% in morning trade while the Topix index shed 0.45%. South Korea’s Kospi declined 0.6%.
Meanwhile, shares in Australia dipped, with the S&P/ASX 200 0.12% lower.
Over in Southeast Asia, the Straits Times index in Singapore dipped 0.4% after official estimates showed the country’s economy contracted 7% in the third quarter as compared to a year ago.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.07% lower.
Xi speech awaited
China’s Xi is set to deliver a speech in Shenzhen on Wednesday, according to state media reports. That comes as the Shenzhen Special Economic Zone celebrates the 40th anniversary of its establishment.
State media outlet Xinhua reported Sunday that the country “unveiled a new comprehensive reform plan for Shenzhen,” giving local authorities there a “more direct and greater say in business” in areas such as carrying out market-based economic reforms.
Apple suppliers mixed
Currencies and oil
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 93.521 following levels below 93.3 seen earlier this week.
The Japanese yen traded at 105.37 per dollar, having seen levels around 105.3 against the greenback earlier in the trading week. The Australian dollar changed hands at $0.7162 following its decline this week from levels above $0.72.
Oil prices edged lower in the morning of Asian trading hours, with international benchmark Brent crude futures down fractionally to $42.41 per barrel. U.S. crude futures also shed 0.1% to $40.16 per barrel.
Source: CNBC