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

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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Stock market live updates: Dow slips 350, record GDP contraction, Big Tech earnings on deckStocks moved lower out of the gate today as investors digested the 32.9% drop in GDP during the second quarter. Follow along with the latest stock market updates here: 32.9% annualized. But anything to get Senile Joe elected right Meant, back at the ranch, Trump musing about delaying the election to stay in office longer. Covid raging GDP down 33% Race relations at its worst Unemployment at it’s highest Trump is insane. Holy shit. The GDP fell by 32.9% in the 2nd quarter. That is another record set by Trump. Trump is going to collapse the entire economy. Other countries didn't fall that far. But we have Trump.
Source: CNBC - 🏆 12. / 72 Read more »

Thai finance ministry slashes 2020 GDP outlook to 8.5% contractionThailand's finance ministry on Thursday slashed its 2020 economic forecast to a record 8.5% contraction in gross domestic product from the 2.8% growth it projected in January, due to the impacts of the coronavirus pandemic.
Source: Reuters - 🏆 2. / 97 Read more »