Asian Equities Open Lower Ahead of Data

Asian stocks opened mostly lower on Thursday, with investors awaiting a flurry of economic data across the region.  Due at 0930 SIN/HK, China’s home price index is expected to show the country’s all-important property sector emerging from the doldrums, thanks to the authorities’ aggressive monetary easing.

According to a report by the China Index Academy (CIA), the average price of a new home in the mainland’s 100 major cities rose 0.5 percent month-on-month in May, marking the first growth in prices since February.

Bank Indonesia is seen holding its key rate at 7.50 percent, according to a Reuters poll where all 25 economists expect no change in the central bank’s monetary policy due to persistent worries over Indonesia’s frail currency, inflation rate and current account deficit.