On Monday, the Nasdaq Composite Index slid by 1.79%. The Dow and the S&P 500 declined by 0.65% and 1.20%, respectively.
The US equity market session from Monday will likely set the tone for the Tuesday Asian markets.
On Tuesday, the Chinese economy will be in focus. Q1 GDP, industrial production, retail sales, fixed asset investment, and unemployment figures warrant investor attention.
Economists forecast the Chinese economy to expand by 0.9% quarter-on-quarter in Q1 after growing by 1.0% in Q4. Moreover, economists expect the economy to grow by 5.0% year-on-year in Q1 after expanding by 5.2% in Q4.
The GDP numbers will likely impact market risk sentiment more. Nevertheless, investors should consider the monthly stats to assess the path of the Chinese economy.
Beyond the numbers, investors should monitor news updates from the Middle East and stimulus chatter from Beijing.
