Stocks in Japan poised to decline; BTS’ label set to make market debut in South Korea

SINGAPORE — Stocks in Japan were set to trade lower at the open, as investors await the market debut of K-pop superstars BTS’ label, Big Hit Entertainment.Futures pointed to a lower open for stocks in Japan, with the Nikkei futures contract in Chicago at 23,570 while its counterpart in Osaka was at 23,540. That compared against the Nikkei 225’s last close at 23,626.73.Meanwhile, shares in Australia edged higher in early trade, with the S&P/ASX 200 gaining about 0.4%.Australia’s jobs data for September are expected to be out at around 8:30 a.m. HK/SIN. China’s Consumer Price Index and Producer Price Index for September are also set to be out at about 9:30 a.m. HK/SIN.Market debut of BTS’ label watchedInvestor focus on Thursday will be on Big Hit Entertainment’s IPO in South Korea, with shares set to begin trading at 8:00 a.m. HK/SIN.Reuters reported earlier this month that South Korean retail investors have bid over $50 billion — more than 600 times the value of shares on offer — to get their hands on Big Hit Entertainment shares. That came after Big Hit Entertainment in late September priced its stock at the top end of the range.CurrenciesThe U.S. dollar index, which tracks the greenback against a basket of its peers, was at 93.382 following an earlier decline from levels around 93.6.The Japanese yen traded at 105.16 per dollar, having strengthened from levels above 105.3 against the greenback yesterday. The Australian dollar changed hands at $0.7139 following levels above $0.72 seen earlier this week.What’s on tap:Australia: Jobs data for September at 8:30 a.m. HK/SINChina: CPI and PPI for September at 9:30 a.m. HK/SIN

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