A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist.The most important Asian economic indicator from a pretty packed calendar on Wednesday, and biggest potential market-mover, will be China's services purchasing managers index report for June, which comes amid the lat
The most important Asian economic indicator from a pretty packed calendar on Wednesday, and biggest potential market-mover, will be China's services purchasing managers index report for June, which comes amid the latest ratcheting up of U.S.-Sino tensions.
Currency traders are on high alert for intervention from authorities in Beijing and Tokyo to slow the slide in the yuan and yen, respectively, while Asian stocks ex-Japan will be looking to rise for a fourth day in a row - a winning streak not seen for two months. China's economic surprises index shows just how much recent data have undershot analysts' expectations - it is deeply negative, tumbling fast, and at its lowest in six months.
The yuan rose to a one-week high against the dollar on Tuesday as the central bank fixed the currency higher and major state banks again lowered their dollar deposit rates as authorities stepped up efforts to arrest the yuan's slide.China abruptly announced on Monday a series of curbs from Aug. 1 on exports of some metals widely used in semiconductors and electric vehicles, ramping up a trade war and potentially causing more disruption to global supply chains.
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