Asian market traded lower on Thursday and expecting a positive turn from the US stock market awaiting key economic data in the region. 
Overall situation of the Market on Thursday 20.7.2023
When we see the overall situations of the market US, Asia, Australia:
The US market traded higher on Thursday registering its eighth straight day high in blue-chip Dow in the middle of release of corporate earnings. In Asia stocks, the lending rates of China are left unchanged. The Loan prime rate (LPR) of one year is kept at 3.55% while the LPR of 5 years are kept unchanged at 4.20%.
Employment in Australia beats the June expectation at the same time and the jobless rate reached near the lows of 50 years.
The numbers in the Australian Bureau of Statistics depicted a rise in net employment in June by 32,600 from May. They started surging higher in a strong 76,600. According to the Reuters report, the Market forecast an increase of 15,000. While the jobless rate stays down at 3.5% equal to the expectation of analysts at 3.6% and left it just above the October trough from last year at 3.4%
Numbers of Asian Markets 
In today’s market, Asian stock sees mostly fall. Nikkei 225 of Japan fell by 0.48% whereas the Topix reduced by 0.22%. Kospi of South Korea dropped 0.54% with the Kosdaq declined 0.8%. Hang Seng index futures of Hong Kong were traded at 18,970 around 20 points. While S&P/ASX 200 of Australia hikes 0.53% despite their unemployment numbers for June.
Simultaneously, the Gift Nifty ended the market close to the Wednesday rate 19,833.15 at 19,840.50 showing a flat rate for Indian index
Situation at Wall Street
US stocks closed the Wednesday market with higher value earning reports from a spate of banks and other large industries. The S&P 500 rose 10.74 points, or 0.2% to end at 4,565.72, whereas the Dow Jones Industrial Average gained 109.28 points, or 0.3% to end at 35,061.21. The Nasdaq composite rose by 4.38 points or fewer than 0.1% to end at 14,358.02.
Goldman Sachs increased by 0.97%, Citizens Financial increased by 6.39%, and M&T Bank increased by 2.48%, lifting banking stocks. To finish 6.46% higher, US Bancorp overcame previous losses. To closing at its highest point since March 10, the KBW regional bank index increased by 2.90%. Among other equities, the price of Tesla shares dropped as its gross margin dropped from 25% a year earlier to 18.2% in the second quarter.
After the market closed, Netflix also saw a loss of 4.48% despite easily exceeding Wall Street’s profit projections.
Key notes on Today’s Indian stock market
Covered some of the key triggers that are highly likely to change today’s Indian stock market here
- Considering the stocks of the Asian market, it is traded mostly lower today and investors are waiting for the release of key economic data of the region.
- US stock rose as inverse to the Asian market, US banking stock rose on Wednesday after beating expectations by earning reports from a spate of banks. It is a positive cue for the Indian banking sector, hoping for the market to rise.
- The market expecting the release of Index of Industrial Production (IIP) data. The data for June is confirmed to be released today. Investors are closely watching the data release as it would give hope for the Indian manufacturing unit.
- Expecting the flow of foreign funds. In recent weeks, foreign investors are the major sellers of Indian equities. If the trend continues today too, it will outweigh the market.
On the whole, the Indian stock market is expected to and has a high likelihood of trading on the negative side, while investors are waiting for the economic data release in the region. At the same time, the continuous rise in the US banking stock could splash a positive outcome on the Indian market.