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Asia-Pacific stocks set for mixed open; Australia’s first-quarter GDP print ahead

SINGAPORE — Shares in Asia-Pacific looked set for a mixed start on Wednesday, ahead of the release of Australia’s gross domestic product print for the first quarter.

Futures pointed to a lower open for Japanese stocks. The Nikkei futures contract in Chicago was at 28,710 while its counterpart in Osaka was at 28,760. That compared against the Nikkei 225’s last close at 28,814.34.

Meanwhile, Australian stocks looked poised for a higher open. The SPI futures contract was at 7,159, as compared with the S&P/ASX 200’s last close at 7,142.60.

On the economic data front, Australia’s gross domestic product for the first quarter is expected to be out at 9:30 a.m. HK/SIN.

In corporate developments, investors will monitor shares of Japan’s Toyota and Honda following reports that the automakers have temporarily suspended production in Malaysia due to country’s lockdown, which started Tuesday.

Overnight stateside, stocks saw a muted start for June. The Dow Jones Industrial Average edged 45.86 points higher to 34,575.31 while the S&P 500 dipped fractionally to 4,202.04. The Nasdaq Composite declined nearly 0.1% on the day to 13,736.48.

Currencies

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 89.831 — weaker than levels above 90 seen earlier this week.

The Japanese yen traded at 109.48 per dollar, stronger than levels around 109.6 seen against the greenback yesterday. The Australian dollar changed hands at $0.7751, stronger than levels below $0.772 seen earlier this week.

Here’s a look at what’s on tap:

  • Australia: First quarter gross domestic product print at 9:30 a.m. HK/SIN

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