China PMI data, stocks, currencies, oil
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SINGAPORE — Shares in the Asia Pacific look set to open lower as investors await data from China.

The Nikkei futures contract in Chicago was at 26,735 while its counterpart in Osaka was at 26,710. That compared against the Nikkei 225’s last close at 26,804.6.

In Australia, SPI futures were at 6,595, lower than the S&P/ASX 200’s last close at 6,700.2.

In economic news, China’s official manufacturing Purchasing Managers’ Index for June will be announced later Thursday. According to a Reuters poll, analysts expect a reading of 50.5, which represents expansion in factory activity from the previous month.

The 50-point mark separates growth from contraction, and the index has been under 50 since March.

South Korea’s factory output grew mildly in May, government data showed. Industrial production increased 0.1% from April’s figure. Service sector output grew 1.1% in May.

Japan is set to report its preliminary industrial production data on Thursday as well.

In corporate news, Toyota Motor missed its monthly production target in May for the third month in a row, Reuters reported.

Meanwhile, Hyundai Motor has decided to delay the launch of its upgraded hydrogen car, the Nexo SUV, Reuters reported, citing a South Korean newspaper.

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Overnight in the U.S., stocks fluctuated on Wednesday after the major averages made a failed attempt at a bounce in the previous session, and as the market prepares to close out the worst first half of the year since 1970.

The Dow Jones Industrial Average ended the session up 82.32 points, or 0.27%, to 31,029.31, while the other benchmarks closed slightly lower. The S&P 500 dipped 0.07% to 3,818.83, and the tech-heavy Nasdaq Composite edged down by 0.03% to 11,177.89.

Rate hikes, recession fears and inflation concerns have plagued the market.


The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 105.106, continuing to strengthen.

The Japanese yen traded at 136.57 per dollar, after briefly breaking the 137 level. The Australian dollar was at $0.6874.

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