Asia-Pacific stocks set for higher start ahead of major economic data this week

SINGAPORE — Shares in Asia-Pacific appeared set for a positive start on Monday as investors look ahead to major economic data releases later in the week.

Futures pointed to a higher open for Japanese stocks. The Nikkei futures contract in Chicago was at 27,165 while its counterpart in Osaka was at 27,160. That compared against the Nikkei 225’s last close at 26,781.68.

Australian stocks also looked poised to open higher, with the SPI futures contract at 7,271, against the S&P/ASX 200’s last close at 7,182.70.

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Several major data releases are expected later in the week. China is set to announce its official manufacturing Purchasing Managers’ Index for May on Tuesday, with investors looking for clues on the economic impact of Covid-related lockdowns on the mainland.

U.S. jobs data is expected Friday. Markets in the U.S. are closed on Monday for a holiday.


The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 101.71 following a recent drop from levels above 102.

The Japanese yen traded at 127.21 per dollar, stronger as compared with levels above 127.8 seen against the greenback last week. The Australian dollar was at $0.7154 after a climb last week from below $0.71.


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