CANBERA (dpa-AFX) - South Korea will on Thursday release preliminary figures for gross domestic product for the fourth quarter of 2011, highlighting a busy day for Asia-Pacific economic activity. GDP is expected to rise 0.5 percent on quarter and 3.5 percent on year after collecting 0.8 percent on quarter and 3.5 percent on year in the previous three months. Japan will release its corporate service price index for December, with analysts expecting a contraction of 0.1 percent on year following the 0.2 percent fall in November. The Bank of Japan also will release its monthly report on economic and financial developments. Singapore will announce December numbers for industrial production, with analysts expecting an increase of 2.1 percent on month and 6.4 percent on year. That follows the 25.2 percent monthly plunge and the 9.6 percent annual contraction in November. Hong Kong will release December figures for imports, exports and trade balance. Imports are expected to add 7.0 percent on year after collecting 8.8 percent in November. Exports are called higher by 3.5 percent after adding 2.0 percent in the previous month. The trade balance is expected to show a deficit of 55.5 billion Hong Kong dollars following the 44.1 billion HKD shortfall a month earlier. Finally, the stock markets in China and Taiwan remain closed for the remainder of the week for the Lunar New Year holiday. Also, the Australian bourse is closed in observance of Australia Day; it will re-open on Friday.
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