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Asian Stocks Open Lower Ahead of Chinese GDP Numbers

Asian stocks fell, led by telecommunication shares, before the release of data on China’s factory output and gross domestic product.

The MSCI Asia Pacific Index lost 0.1 percent to 139.44 as of 9:03 a.m. in Tokyo, before markets open in Hong Kong and China. The gauge finished last week at within 2 points of its closing level for 2013 as investors weighed signs of a stronger global economy against concern about equity valuations.

“Until we see a clear upside catalyst emerge in the near-term, we may see this lack of enthusiasm persist for some time,” Tim Radford, a strategist at Rivkin Securities in Sydney, wrote in an e-mail. “Investors will watch closely Chinese GDP figures as they will provide further insight into the direction the economy is heading under the government’s structural changes.”

Bloomberg [1]

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Mingze Wu

Mingze Wu [6]

Currency Analyst at Market Pulse [7]
Based in Singapore, Mingze Wu focuses on trading strategies and technical and fundamental analysis of major currency pairs. He has extensive trading experience across different asset classes and is well-versed in global market fundamentals. In addition to contributing articles to MarketPulseFX, Mingze centers on forex and macro-economic trends impacting the Asia Pacific region.
Mingze Wu
Mingze Wu

+Mingze Wu [10]