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Japan stocks set to trade higher; investors monitor Apple supplier stocks following revenue miss

SINGAPORE — Shares in Japan looked set for a positive Friday start as Asia-Pacific investors monitor stocks of Apple suppliers after the tech giant’s revenue miss.

Futures pointed to a higher open for Japanese stocks, with the Nikkei futures contract in Chicago at 28,830 while its counterpart in Osaka was at 28,900, against the Nikkei 225’s last close at 28,820.09.

Australian stocks nudged higher as the S&P/ASX 200 rose about 0.1%. Australia’s retail sales data for September is set to be released at 8:30 a.m. HK/SIN.

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Investors will watch for movements in regional Apple supplier stocks after the company’s sales fell short of Wall Street expectations in its fiscal fourth quarter. CEO Tim Cook said there were larger-than-expected supply constraints on iPhones, iPads and Macs.

Overnight stateside, the S&P 500 jumped 0.98% to 4,596.42 while the Dow Jones Industrial Average climbed 239.79 points to 35,730.48. The Nasdaq Composite surged 1.39% to 15,448.12.

Currencies

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 93.345 after a recent drop from above 93.9.

The Japanese yen traded at 113.56 per dollar, stronger than levels above 114 seen against the greenback earlier this week. The Australian dollar changed hands at $0.753, having climbed from below $0.75 earlier in the week.


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