Japan is set to announce February numbers for its merchandise trade balance on Wednesday, headlining a modestly active day for Asian economic news.

Analysts are expecting the balance to reflect a deficit of 20 billion yen following the 956.9 billion yen shortfall in the previous month. The adjusted balance is expected to show a deficit of 297.8 billion yen after the 364.9 billion yen shortfall a month earlier. Exports are seen lower by 47.6 percent after the 45.7 percent fall in January. Imports are called lower by 38.4 percent following the 31.7 percent decline in January.

Also, Bank of Japan Deputy Governor Hirohide Yamaguchi will speak at a business meeting in Otaru City.

The Philippines will provide January numbers for imports and trade balance. Forecasts call for a decline of 37.9 percent on year in imports after a 34.2 percent annual fall in the previous month. The trade balance is expected to reflect a shortfall of $484 million after the $617 million deficit a month earlier.

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