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Asia stocks set to trade lower after historic U.S. GDP contraction; China's manufacturing data awaited

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Asia stocks set to trade lower following historic U.S. GDP contraction; China's manufacturing activity data awaited

Data released Thursday by the U.S. government showed GDP dropping 32.9% in the second quarter — the worst drop ever, with the closest previously coming in mid-1921.

Looking ahead to the Friday trading day, China's official Purchasing Managers' Index for July is set to be released at around 9:00 a.m. HK/SIN.record contraction in U.S. gross domestic in the second quarterFutures pointed to a lower open for stocks in Japan. The Nikkei futures contract in Chicago was at 22,315 while its counterpart in Osaka was at 22,240. That compared against theShares in Australia were also set to dip.

Looking ahead to the Friday trading day, China's official Purchasing Managers' Index for July is set to be released at around 9:00 a.m. HK/SIN. Investors will watch the data release for clues to China's economic recovery from the coronavirus pandemic.Overnight stateside, the

 

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The Chinese make up there economic numbers

China can not and will not be trusted in their data.

meanwhile, on China' s social media

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