SINGAPORE — Stocks in Japan looked set to trade lower at the Friday open despite an overnight bounce on Wall Street on the back of better-than-expected U.S. economic data.
Futures pointed to a lower open for Japanese stocks. Both the Nikkei futures contract in Chicago as well as its counterpart in Osaka sat at 23,280. That compared against the Nikkei 225’s last close 23,331.94. Japan’s preliminary industrial production data for September is set to be out at around 7:50 a.m. HK/SIN on Friday.
Meanwhile, shares in Australia advanced in early trade, with the S&P/ASX 200 up around 0.3%.
Shares of Apple suppliers in Asia-Pacific will be watched on Friday after the Cupertino-based tech giant reported fourth-quarter earnings that slightly beat Wall Street expectations. Apple, however, did not offer investors any guidance for the quarter ending in December — meaning that investors and analysts don’t get clues on the firm’s sales performance expectations of the iPhone 12, which went on sale in October.
In coronavirus developments, Moderna said Thursday it is prepping for the global launch of its potential coronavirus vaccine. That comes amid a rise in cases in the U.S. as well as Europe, with Germany and France announcing new nationwide lockdowns.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 93.955 after rising from levels below 93.5 this week.
The Japanese yen traded at 104.59 against the greenback after weakening from levels around 104 per dollar yesterday. The Australian dollar changed hands at $0.7032, having seen a decline from levels above $0.708 earlier this week.
What’s on tap:
- Japan: Preliminary industrial production data for September at 7:50 a.m .HK/SIN