China’s GDP, industrial production, retail sales

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SINGAPORE — Asia-Pacific stocks fell on Friday ahead of data from China, including GDP and retail sales figures.

In Australia, the S&P/ASX 200 fell 1.4%.

The South Korean Kospi gave up early gains to fall 0.86% and the Kosdaq lost 0.71%.

Japan’s Nikkei 225 was roughly flat after rising in early trade, while the Topix index lost 0.54%.

Shares of Fast Retailing, owner of Uniqlo, jumped 7.59% after the company posted record quarterly profit after Thursday’s close, Reuters reported.

MSCI’s broadest index of Asia-Pacific stocks outside Japan lost 0.33%.

China is expected to release its GDP for the second quarter, along with other data such as industrial production and retail sales.

Growth is expected to rise 1% from the same period a year ago, according to a Reuters poll of analysts. It would be the weakest GDP since the first quarter of 2020, when the Covid pandemic first hit.

Industrial production is expected to rise 4.1%, while retail sales appear to be flat, according to Reuters polls.

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Separately in China, banking and property stocks took a hit on Thursday as homebuyers boycott mortgage payments for unfinished property projects.

The South China Morning Post reported late Thursday that the boycott had gained momentum as buyers at more than 230 properties in 86 cities failed to make mortgage payments.

U.S.-listed Alibaba shares fell more than 4% overnight after the Wall Street Journal reported that company executives were summoned by authorities investigating the theft of police data.

US stock indices fell on Thursday after disappointing bank earnings.

The Dow Jones Industrial Average fell 0.46%, or 142.62 points, to 30,630.17, while the S&P 500 fell 0.3% to 3,790.38. The Nasdaq Composite edged up 0.03% to end at 11,251.19.

Currencies and Oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 108.584.

The Japanese yen was at 139.02, after weakening above 139 against the greenback on Thursday. The Australian dollar was at $0.6757.

Oil futures rose in Asian trading. U.S. crude gained 0.76% to $96.51 a barrel, while Brent crude rose 0.93% to $100.02 a barrel.

– CNBC’s Samantha Subin and Carmen Reinicke contributed to this report.


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