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Asia-Pacific stocks set for higher open; Japan’s first-quarter GDP print ahead

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SINGAPORE — Shares in Asia-Pacific looked set for a positive start on Tuesday, with Japan set to report its first-quarter gross domestic product.

Futures pointed to a higher open for Japanese stocks. The Nikkei futures contract in Chicago was at 29,135 while its counterpart in Osaka was at 29,150. That compared against the Nikkei 225’s last close at 29,019.24.

Japan’s gross domestic product data for the first quarter is expected to be out at around 7:50 a.m. HK/SIN on Tuesday.

Shares in Australia also looked poised to start the trading day in positive territory, with the SPI futures contract at 7,286.0 against the S&P/ASX 200’s last close at 7,281.90.

Overnight on Wall Street, the S&P 500 struggled to reach a record high, slipping roughly 0.1% on the day to 4,226.52. The Dow Jones Industrial Average dropped 126.15 points to 34,360.24 while the Nasdaq Composite gained 0.49% to 13,881.72.

Currencies

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 89.95 after its recent decline from above the 90 level.

The Japanese yen traded at 109.27 per dollar, stronger than levels above 110 seen against the greenback last week. The Australian dollar changed hands at $0.7757, largely holding on to gains after last week’s climb from below $0.768.

Here’s a look at what’s on tap:

  • Japan: First quarter GDP print at 7:50 a.m. HK/SIN



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