The main drivers for Asian markets this week will be key economic data from Asia’s largest economies, Australia’s federal budget and the results of India’s general election.
Japan’s March current account data is due out Monday. The economy returned to a trade surplus in February for the first time in five months, marking a turnaround from a January’s record deficit of 1.6 trillion yen ($13.6 billion).
But as the country ramps up purchases of gas and oil imports to make up for its lack of nuclear power, analysts are not getting their hopes up for a sustained improvement in the trade balance. The key figure to watch will be Thursday’s first-quarter gross-domestic product (GDP), analysts say.