Economic data from China and commentary from central banks across the region will set the tone of trade in Asia-Pacific this week. The week kicks off with China’s foreign direct investment (FDI) data for May. In April, FDI spiked 3.4 percent on year following a decline in March, but traders say investment may drop as cooling property prices and rising vacancies spark fears of a housing crash.
Monday also brings India’s wholesale price index (WPI) for May. While it’s no longer the central bank’s benchmark for measuring inflation, it remains a key gauge of the country’s economic health.
“Wholesale price inflation has stabilized in the 5 to 5.5 percent range in recent months as slower food price growth weighs on the index. Fuel prices have also cooled as previous moves to scale back government subsidies have now been absorbed into wholesale and consumer prices,” said analysts at Moody’s Analytics in a note.
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