Asian investors are closely watching Japan's trade data, scheduled for release later today, ahead of the Bank of Japan's rate decision this week. Meanwhile, US markets grapple with the Dow's record nine-day losing streak and a weakening advance-decline line in the S&P 500.
Investors in Asia will assess trade data out of Japan , which will be released later in the day, ahead of a Bank of Japan rate decision this week. The country's exports are expected to have increased 2.8% in November year-over-year according to economists polled by Reuters. Imports are expected to have risen 1%.futures pointed to a lower open for the market, with the futures contract in Chicago at 39,340 and its counterpart in Osaka at 39,270 compared to the previous close of 39,364.68.
Traders are looking ahead to the People's Bank of China loan prime rates set for release on Friday. The one-year LPR influences corporate loans and most household loans in China, while the five-year LPR serves as a benchmark for mortgage rates. In the U.S. on Tuesday, the blue-chip Dow entered the history books with its first nine-day losing streak since 1978.The Dow's losing streak began the day after it closed above 45,000 for the first time ever earlier in the month and it comes at a time when the broader market is doing well. The S&P 500 hit a new high on Dec. 6 and sits less than 1% from that level. The Nasdaq hit a record on Monday. Driving the Dow's losses has been a rotation into technology stocks and out of some of the more old-economy stocks that gained in November followingS&P 500 advance-decline line on 11-day losing streakLarry Benedict of The Opportunistic Trader said the S&P 500's advance-decline line has fallen for 11 straight sessions, its longest streak since at least 2001. The A/D line is a market indicator that compares the number of S&P 500 stocks rising or falling each trading day. That sign of weak market breadth may be more of a warning sign for investors than the Dow's protracted slide. ''s only 30 stocks, and really it's not indicative. ... Really I think the A/D line is really a big deal, because that's 500 stocks. That's not 3
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