Latest News Asia-Pacific stocks set to decline following overnight drop on...

Asia-Pacific stocks set to decline following overnight drop on Wall Street

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Stocks in Asia-Pacific were set to trade lower at the open following overnight declines on Wall Street.

Futures pointed to a lower open for stocks in Japan. The Nikkei futures contract in Chicago was at 23,135 while its counterpart in Osaka was at 23,070. That compared against the Nikkei 225’s last close at 23,346.49.

Shares in Australia were also poised to dip, with the SPI futures contract at 5,850.0, as compared to the S&P/ASX 200’s last close at 5,923.30.

Investors will watch technology shares in the region after their counterparts stateside saw losses. 

Overnight on Wall Street, the Dow Jones Industrial Average fell 525.05 points, or 1.9%, to close at 26,763.13. The S&P 500 slipped 2.4% to finish its trading day at 3,236.92 while the Nasdaq Composite dropped 3% to close at 10,632.99.

Meanwhile, the Bank of Japan is also set to release its monetary policy meeting minutes at around 7:50 a.m. HK/SIN. 

In coronavirus developments, Johnson & Johnson said Wednesday it has begun its phase three trial testing its potential coronavirus vaccine. The firm is the fourth drugmaker backed by U.S. President Donald Trump’s administration’s Covid-19 vaccine program, Operation Warp Speed, to enter late-stage testing.

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Currencies

The U.S. dollar index, which tracks the greenback against a basket of its peers, sat at 94.389 following its rise from levels below 93 this week.

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The Japanese yen traded at 105.37 per dollar after weakening from levels around 105 yesterday. The Australian dollar was at $0.7065 after falling yesterday from above $0.712.

Here’s a look at what’s on tap:

  • Japan: Bank of Japan’s monetary policy meeting minutes at 7:50 a.m. HK/SIN

— CNBC’s Berkeley Lovelace Jr. contributed to this report.

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