RTTNews - Japan is scheduled to release current account totals for April, headlining a day of modest activity in Asian economic news. Also due are money stock, bank lending, eco watchers and bankruptcy figures for May.
The current account total is forecast at 850 billion yen, easing from 1.485 trillion yen in March. The adjusted current account total is seen at 960 billion yen, up from 902.3 billion yen in the previous month. The trade balance is expected to show a surplus of 184.6 billion yen, up from the 132.9 billion yen surplus a month earlier.
The M2 money stock is expected to remain unchanged at 2.6 percent, while M3 is also called steady at 1.7 percent. Bank lending came in at 3.4 percent higher on year in April, while lending minus trusts was up 3.6 percent and the seasonally adjusted lending added 4.2 percent. The current eco watchers survey posted an index score of 34.2, while the outlook came in at 39.7. Bankruptcies were up an annual 9.4 percent in April.
Taiwan will release May numbers for imports, exports and trade balance. Imports are expected to plummet 39 percent on year after the 41.2 percent annual contraction in April. Exports are called lower by 34 percent on year after the 34.2 percent annual decline in the previous month. The trade balance is expected to climb 2.3 percent on year after the 2.14 percent annual gain a month earlier.
Hong Kong will announce FX reserves numbers for May, with analysts predicting a surplus of $191.6 billion. That's down from $193.4 billion in April.
Finally, Malaysia's Kuala Lumpur Composite Index will be closed on Monday in observance of the king's birthday. The market will re-open on Tuesday.
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