SINGAPORE — Asia-Pacific stocks are set to trade mixed Friday ahead of China data including GDP and retail sales numbers.
The Nikkei futures contract in Chicago was at 26,770 while its counterpart in Osaka was at 26,690. That compared against the Nikkei 225’s last close at 26,643.39.
Uniqlo-owner Fast Retailing posted a record quarterly profit after the close on Thursday, Reuters reported.
In Australia, SPI futures were at 6,489, lower than the S&P/ASX 200‘s last close at 6,650.6.
China is set to report its GDP for the second quarter, along with other data such as industrial production and retail sales.
Growth is expected to grow 1% compared with the same period a year ago, according to a Reuters poll of analysts. That would be the weakest GDP print since the first quarter of 2020 when the Covid pandemic first hit.
Industrial production is expected to grow 4.1%, while retail sales looks to be flat, Reuters polls said.
Separately in China, bank and real estate stocks were hit Thursday as homebuyers boycott mortgage payments for unfinished property projects.
The South China Morning Post reported late Thursday that the boycott has grown, with buyers of more than 230 properties in 86 cities not making mortgage payments.
Alibaba’s U.S.-listed shares dropped more than 4% overnight after the Wall Street Journal reported that the company’s executives were summoned by authorities investigating theft of police data.
U.S. stock indexes slipped Thursday after bank earnings disappointed.
The Dow Jones Industrial Average shed 0.46%, or 142.62 points, to 30,630.17, while the S&P 500 dipped 0.3% to 3,790.38. The Nasdaq Composite inched 0.03% higher to finish at 11,251.19.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 108.544.
— CNBC’s Samantha Subin and Carmen Reinicke contributed to this report.