People walk along a promenade next to Victoria harbour in Hong Kong on August 31, 2023, a day before the arrival of Typhoon Saola. (Photo by ISAAC LAWRENCE / AFP) (Photo by ISAAC LAWRENCE/AFP via Getty Images)
Isaac Lawrence | Afp | Getty Images
Asia-Pacific markets are set to fall as traders await China’s Caixin manufacturing PMI data, amid a slew of other economic data in the region.
In Japan, the Nikkei futures contract in Chicago was at 32,505 while its counterpart in Osaka was at 32,490. Both are lower compared to the Nikkei 225’s last close at 32,619.34.
In Australia, futures for the S&P/ASX 200 were at 7,237, lower than the index’s last close of 7,350.3.
Hong Kong is bracing for Super Typhoon Saola and the Hang Seng index will pause trading as the bad weather approaches. According to the Hong Kong stock exchange guidelines, trading will be halted if a No. 8 signal or above is issued before pre-opening and will remain in place until 12 p.m.
As of 6.45 a.m. Singapore/Hong Kong time, the Hong Kong Observatory noted that the Storm Signal No. 8 will “remain in force for most of today.”
Traders are also waiting for a private-sector survey reading of China’s factory activity for July.
Overnight in the U.S., the Dow Jones Industrial Average fell by about 168 points, or 0.5%, to close at 34,721.91. The S&P 500 ticked down nearly 0.2% to 4,507.66. The Nasdaq Composite ticked higher at the closing bell, but still suffers worst month in 2023.