Asia-Pacific Markets Poised to Trade Lower; Survey on China's Factory Activity Results Ahead

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Asia-Pacific Markets Poised to Trade Lower; Survey on China's Factory Activity Results Ahead
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Asia-Pacific futures pointed to a lower open on the first day of a new quarter as investors await the results of a private survey on Chinese factory activity.

Markets in Hong Kong were closed on Friday for a holiday.

The city commemorates the 25th anniversary of its handover from the U.K. to China on Friday. Chinese Presidentto participate in the anniversary events. It was his first trip outside mainland China since Covid hit. Hong Kong's new chief executive, John Lee, will also be sworn in on Friday. Lee, a Beijing loyalist, was the only candidate in the running to replace outgoing leader Carrie Lam.. The S&P 500, which had its worst first half in more than 50 years, declined nearly 0.9% to 3,785.38.

Meanwhile, the Dow Jones Industrial Average slipped 253.88 points, or 0.8%, to 30,775.43, and the Nasdaq Composite pulled back by 1.3% to 11,028.74.

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