BoJ Tankan Survey On Tap For Tuesday

(RTTNews) - The Bank of Japan will on Tuesday release its quarterly Tankan Survey measuring business sentiment, highlighting a busy day for Asia-Pacific economic activity.

The large manufacturers' index is expected to dip to 15 from 17 in the first quarter, with the outlook tipped to climb to 17 from 8. The non-manufacturers' index is expected to sink to 19 from 24, while the outlook is called 20 - up from 13. All-industry capex is expected to rise 6.0 percent over the next year, up from just 0.1 percent in the previous three months.

Japan also will see May numbers for labor cash earnings, plus final June numbers for the Markit manufacturing PMI. Earnings are expected to rise 0.7 percent on year after gaining 0.9 percent in April, while no change is expected from last month's preliminary reading of 51.1 for the manufacturing index.

The Reserve Bank of Australia will conclude its monetary policy meeting and then announce its decision on interest rates; the bank is widely expected to keep rates on hold at 2.50 percent.

Australia also will see June results for the AiG Performance of Manufacturing Index, and for the commodity price index. In May, the manufacturing index saw a score of 49.2, while the commodity price index dipped 12.8 percent on year to a score of 97.4.

China will release June figures for its manufacturing PMI, and also see final June results for the HSBC manufacturing PMI. The former is expected to show a score of 51.0, up from 50.8, while the latter is called unchanged at 50.8.

South Korea will provide June numbers for consumer prices, with analysts expecting inflation to rise 1.9 percent - up from 1.7 percent in May. On month, CPI added 0.2 percent in May.

Indonesia will see May trade data and June numbers for consumer prices. In April, imports were worth $16.26 billion and exports were at $14.29 billion for a trade deficit of $1.97 billion.

Inflation is expected to rise 0.5 percent on month and 6.8 percent on year after gaining 0.16 percent on month and 7.32 percent on year. Core CPI was up 0.35 percent on month and 7.67 percent on year in May.

Indonesia also will see June results for its manufacturing PMI from Markit; in May, the index saw a score of 52.4.

Thailand will release June figures for consumer and producer prices. CPI is expected to be flat on month and up 2.5 percent on year after gaining 0.4 percent on month and 2.6 percent on year in May. Producer prices were up 0.4 percent on month and 1.2 percent on year a month earlier.

Finally, stock markets in Hong Kong and Thailand will be closed on Tuesday for Region Establishment Day and Mid-Year Day. Both will re-open on Wednesday.