BOJ decision, China PMI, Samsung earnings

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BOJ decision, China PMI, Samsung earnings

Kazuo Ueda, governor of the Bank of Japan (BOJ), speaks during a news conference at the central bank’s headquarters in Tokyo, Japan

Bloomberg | Bloomberg | Getty Images

Asia-Pacific markets are set for a mixed open on Thursday as investors look to the Bank of Japan’s rate decision, as well as key business activity figures from China.

Economists polled by Reuters expect the BOJ will hold rates at 0.25%, although the statement will be parsed for any clues on the timing of its next rate hike.

In China, the National Bureau of Statistics is set to release the country’s official purchasing managers index numbers for September, with the manufacturing PMI forecast to come in at 49.9, a softer contraction than the 49.8 the month before.

Still, that would be the sixth straight month of contraction for the country’s manufacturing sector.

Japan’s benchmark Nikkei 225 is set to open higher, with the futures contract in Chicago at 39,255 and its counterpart in Osaka at 39,227 against the index’s last close of 39,277.39

In contrast, futures for Hong Kong’s Hang Seng index stood at 20,511, pointing to a stronger open compared to the HSI’s close of 20,380.64.

Australia’s S&P/ASX 200 started the day down marginally.

Overnight in the U.S., stocks slipped as investors digested a deluge of earnings reports and looked toward more results from megacap technology companies.

Alphabet exceeded analysts’ expectations as the company saw strong quarterly revenue growth from its cloud business. Shares jumped almost 3%. However, Shares of chipmaker AMD slid more than 10% as its fourth-quarter revenue guidance ******* to impress investors.

Tech titans Apple and 

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 are due Thursday, following results from Meta Platforms and 

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.

The tech-heavy Nasdaq Composite declined 0.56% after earlier rising to a fresh record high. The S&P 500 slid 0.33%, and the Dow Jones Industrial Average lost 0.22%, to close at 42,141.54.

— CNBC’s Hakyung Kim and Pia Singh contributed to this report.

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#BOJ #decision #China #PMI #Samsung #earnings

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