SINGAPORE — Markets across Asia-Pacific were set for mixed trading on Wednesday, as developments turned the focus on Chinese tech giants and regional energy stocks.
Futures pointed to a mixed open for Japanese stocks. The Nikkei futures contract in Chicago was at 27,105 while its counterpart in Osaka was at 27,190. That compared against the Nikkei 225’s last close at 27,158.63.
Stocks in Australia slipped in morning trade, with the S&P/ASX 200 down 0.36%.
Shares of Chinese tech giants Tencent and Alibaba will be monitored by investors on Wednesday after U.S. President Donald Trump signed an executive order banning transactions with eight Chinese software applications, according to Reuters. That included WeChat Pay and Ant Group’s Alipay. The order is only set to go into effect after Trump leaves office.
Energy stocks regionally will also be watched by investors after Saudi Arabia agreed to voluntary production cuts in February and March.
On the economic data front, China’s Caixin/Markit services Purchasing Managers’ Index is expected to be out at around 9:45 a.m. HK/SIN.
Currencies
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 89.490 as it continues to languish below the 90 level.
The Japanese yen traded at 102.65 per dollar after strengthening yesterday from levels above 102.9 against the greenback. The Australian dollar changed hands at $0.7759 following a rise from levels below $0.768 yesterday.
What’s on tap:
- China: Caixin/Markit services Purchasing Managers’ Index for December at 9:45 a.m. HK/SIN
Source: CNBC