Asia-Pacific stocks set for mixed open; China trade data for March ahead

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SINGAPORE — Shares in Asia-Pacific were set for a quiet start on Tuesday following a muted finish overnight on Wall Street.

Futures pointed to a higher open for Japanese stocks, with the Nikkei futures contract in Chicago at 29,635 while its counterpart in Osaka was at 29,570. That compared against the Nikkei 225’s last close at 29,538.73.

Meanwhile, shares in Australia looked poised to dip. The SPI futures contract was at 6,964, compared to the S&P/ASX 200’s last close at 6,974.

Looking ahead, China’s trade data for March is expected to be out at around 11:00 a.m. HK/SIN on Tuesday.

In corporate developments, investors will watch Hong Kong-listed shares of Chinese tech giant Alibaba after the Chinese central bank announced Monday that Alibaba’s financial technology affiliate Ant Group is to restructure as a financial holding company. It comes just days after Alibaba was slapped with a $2.8 billion fine for violating anti-monopoly rules.

Overnight stateside, the S&P 500 ended its trading day little changed at 4,127.99 while the Dow Jones Industrial Average shed 55.2 points to close at 33,745.40. The Nasdaq Composite slipped 0.36% on the day to 13,850.

The muted moves on Wall Street came as investors waited for the release of inflation numbers due out on Tuesday stateside.

Currencies

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 92.138 — largely struggling to recover following last week’s slip from above 92.8.

The Japanese yen traded at 109.40 per dollar, stronger than levels above 109.5 against the greenback seen yesterday. The Australian dollar changed hands at $0.7623, lower than levels above $0.765 seen in the previous trading week.

Here’s a look at what’s on tap:

  • China: Trade data for March at 11:00 a.m. HK/SIN

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