SINGAPORE — Asia-Pacific stocks slipped in Monday morning trade as investors await the release of Chinese economic data for July.
In Japan, the Nikkei 225 dropped 1.37% in early trade while the Topix index shed 1.1%.
Japan’s GDP rose 0.3% in the second quarter as compared with the previous three months, when it contracted 0.9%, according to official preliminary estimates released Monday. The April-June data print beat market forecasts for a 0.2% increase, according to Reuters.
Shares in Australia also dipped, with the S&P/ASX 200 0.15% lower.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded above the flatline.
South Korea’s markets are closed on Monday for a holiday.
Investor focus on Monday will likely be on the release of a slew of Chinese economic data at 10 a.m. HK/SIN. That includes China’s industrial production and retail sales print for July.
Currencies and oil
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 92.54 following a recent decline from around the 93 level.
The Japanese yen traded at 109.55 per dollar, following a strengthening late last week from above 110 against the greenback. The Australian dollar changed hands at $0.7366, above levels below $0.735 seen last week.
Oil prices slipped in the morning of Asia trading hours, with international benchmark Brent crude futures 0.61% lower at $70.16 per barrel. U.S. crude futures shed 0.66% to $67.99 per barrel.