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Asia Pacific stocks set for lower start as S&P 500 touches record high

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Overnight on Wall Street, the S&P 500 erased its coronavirus losses as it rose to an all-time high. The broader market index advanced 0.2% to 3,389.78, a record close.

Investors will also likely continue to monitor developments in Australia-China relations. On Tuesday, China's Ministry of Commerce said it is launching an anti-dumping investigation into some wines imported from Australia.

On the economic data front, Japan's trade data for July is expected to be released at around 7:50 a.m. HK/SIN on Wednesday.stateside rose to a new record overnight. Futures pointed to a lower open for Japanese stocks. The Nikkei futures contract in Chicago was at 23,050 while its counterpart in Osaka was at 23,040. That compared against theShares in Australia were also poised to decline. The SPI futures contract was at 6,062.0, as compared to theOn the economic data front, Japan's trade data for July is expected to be released at around 7:50 a.m. HK/SIN on Wednesday.

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