Hong Kong Trade Balance On Tap For Tuesday

Hong Kong will on Tuesday provide February figures for imports, exports and trade balance, highlighting a modest day for Asia-Pacific economic activity.

Imports are expected to rise 5.7 percent on year following the 10.5 percent contraction in January. Exports are called higher by 0.2 percent on year after falling 8.6 percent in the previous month. The trade balance is expected to reflect a deficit of 36.2 billion Hong Kong dollars after showing a shortfall of 8.9 billion HKD a month earlier.

Taiwan will show the results of its leading index for February; it saw an increase of 1.02 percent on month in January.

The Philippines will announce January figures for imports and trade balance. Imports are expected to fall 9.4 percent on year after shedding 6.5 percent in December. The trade balance is tipped to show a deficit of $685 million after posting a shortfall of $1.221 billion in the previous month.

Japan will announce the February results of corporate service prices, with analysts expecting a decline of 0.4 percent on year following the 0.2 percent contraction a month earlier.

Japan Corporate Service Price Index -0.6% On Year In February

- An index measuring corporate service prices in Japan was down 0.6 percent on year in February, the Bank of Japan said on Tuesday, standing at 95.7.

That missed forecasts for a 0.4 percent contraction following the downwardly revised 0.4 percent decline in January - which saw an original reading of -0.2 percent.

On a monthly basis, corporate service prices were up 0.1 percent following the 0.6 percent contraction in January.

Among the individual components, prices declined for advertising and transportation - while they moved higher for communications and leasing.

Chinese Industrial Profits Decline

China's industrial companies logged a decline in profits during January to February, the National Bureau of Statistics said Tuesday.

Firms made a profit of CNY 606 billion, down 5.2 percent from a year ago. During the same period of 2011, profits were up 34.3 percent.

In 2011, total industrial profits climbed 25.4 percent.

S. Korean Consumer Confidence Strengthens For Second Month

South Korean consumer sentiment improved for the second month in March, survey results from the Bank of Korea showed Tuesday.

The consumer confidence index, which measures consumers' overall economic outlook, living conditions and future spending, improved to 101 from 100 a month ago.

Consumer sentiment on current living standards dropped by 2 points to 84, while that concerning the outlook remained stable at 94 in March. At the same time, consumer sentiment regarding current domestic economic conditions and their future outlook rose by 2 points each to 70 and 82, respectively.

Consumer sentiment on prospective changes in total household income rose by 1 point to 97, while that on prospective spending decisions held steady at 108.

The survey showed that consumer sentiment concerning the outlook for price movements dropped by 1 point to 141, and that regarding expected inflation dipped by 0.1 percentage point to 3.9 percentage.

European Economics Preview: German GfK Consumer Sentiment Data Due

Consumer confidence survey results from Germany and Distributive Trades data from the U.K. are the major reports due on Tuesday.

At 2.00 am ET, German GfK consumer confidence data is due. The consumer sentiment is expected to remain unchanged at 6 points in April.

In the meantime, the Federal Statistical Office is set to publish German import prices. Economists forecast import price annual inflation to fall to 3.5 percent in February from 3.7 percent in January.

The French statistical office Insee is slated to release consumer confidence survey data at 2.45 am ET. The sentiment index is forecast to remain unchanged at 82 in March.

At 3.30 am ET, Statistics Netherlands is scheduled to issue final GDP figures for the fourth quarter. Also, Sweden's February producer prices and trade balance figures are due.

Spain's short-term bill auction results are due at 5.30 am ET. The government aims to raise a maximum of EUR 1.75 billion from 3-month T-bill auction and EUR 1.25 billion from 6-month T-bill issue.

At 6.00 am ET, the Confederation of British Industry is scheduled to release results of Distributive Trades survey. The retail sales balance is seen falling to -5 in March from -2 in February.