Futures markets are pointing to a rough day for Asia Pacific investors despite positive international leads. However there are a number of factors that could change the complexion of the trading day. Important data from China and Japan will likely drive regional sentiment, and key company reports may dominate the Australian share market.
Falls on European share markets didn’t deter US investors. After an early wobble major US indices glowed green over the Friday session, and key industrial commodities rose. It appears local traders doubt the moves that followed inflation data dropping in line with expectations.
Analysts are tuned to GDP data in Japan, but China retail sales and industrial production numbers could dominate. Data in line with forecasts of a 10.5% increase in sales a 6.9% growth in production may steady regional trade.
Australian analysts are already cutting the numbers from Bendigo Bank, Ooh Media, Aurizon and Newcrest. JB Hifi’s 5.8% growth in like for like sales will not only please shareholders but may also dispel some of the gloom hanging over the retail sector.
