Fast Asia Open: Japan machine orders, Philippines trade data

Nikki Haley became the third senior member of Donald Trump’s national security team to resign in the last seven months, announcing on Tuesday she was stepping down as UN ambassador because she wanted to “take a break” from government service.

In her resignation letter, she said she would “speak out” occasionally on “important public policy matters”, a strong signal she will not be departing the Republican political scene.

Ms Haley’s announcement was also awkwardly timed for Mr Trump, coming as the president is attempting to present a united Republican party just a month before midterm congressional elections where it is at risk of losing at the House of Representatives. 

On Wall Street overnight, the S&P 500 gave up early gains to end the day 0.1 per cent lower after the International Monetary Fund lowered its global economic growth projections for both 2018 and 2019 and said an escalation of trade tensions was a key threat to the outlook.

In Asia-Pacific equities, futures tip Sydney’s S&P/ASX 200 to shed 0.2 per cent at the open, while Tokyo’s Topix is set to rise 0.4 per cent and Hong Kong’s Hang Seng is expected to gain 0.2 per cent when trading begins.

Corporate earnings reports out today include ABC-Mart and Aeon.

The economic calendar for Wednesday is new and improved (all times Hong Kong):

  • 07.30: Australia Westpac consumer confidence
  • 07.50: Japan core machine orders
  • 09.00: Philippines imports, exports and trade balance
  • 14.00: Japan machine tool orders (preliminary)

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