Investors in Asia on Thursday also have plenty of local news and events to digest, including central bank policy meetings from the Philippines and Taiwan, Indian wholesale inflation figures, Australian unemployment and New Zealand GDP.
Economists polled by Reuters expect the Philippine central bank to keep rates on hold at 6.50% through the first half of next year, and begin easing policy in the third quarter.
Taiwan’s central bank, meanwhile, is expected to leave its policy rate unchanged at 1.875% for all of next year, only beginning its easing cycle in the first quarter of 2025.
Economic growth in New Zealand likely slowed significantly in the third quarter, according to a Reuters poll, while figures are expected to show a sharp slowdown in job growth in Australia in November with the unemployment rate inching up to 3.8% from 3.7%.
The annual rate of wholesale price inflation in India, meanwhile, is expected to have climbed to 0.08% last month from -0.52% in October.
If any Asian country’s markets could do with a bit of relief, it is China, where stocks tanked on Wednesday after investors gave a clear thumbs down to proposals and pledges from Chinese leaders gathered in Beijing to boost the economy and fight off deflation.
The CSI 300 index of blue chip shares fell 1.7%, its fifth biggest fall this year, and the benchmark Shanghai index also fell more than 1%.
