(RTTNews) - Japan is scheduled to release May numbers for merchandise trade balance on Wednesday, headlining a moderately active day for Asian economic news. Also due out are May numbers for corporate service prices and June data for small business confidence.

Due out 10 minutes before the Japanese stock market opens, merchandise trade balance is forecast at 23.1 billion yen, down from 485 billion yen in the previous month. The adjusted figure is projected at 413.4 billion yen after showing 609.2 billion yen a month earlier. Corporate service prices are called higher by 0.6 percent on year, up from the 0.5 percent annual increase in April. Later in the afternoon, the small business confidence index is expected to remain close at flat at the previous reading of 42.2.

The Philippines are set to announce April numbers for imports and trade balance. Imports are seen higher by 22.2 percent on year, up sharply from the 12.2 percent annual increase in the previous month. The trade balance is expected to reflect a deficit of $981 million following a $928 million deficit a month earlier.

Taiwan will provide May data for money supply, with expectations for a 2.2 percent annual increase after a 2.12 percent expansion on year in April.

South Korea will provide consumer confidence data for the second quarter sometime this week, with forecasts calling for the index to ease to a score of 99 from 105 in the previous quarter. Also, the Ministry of Strategy and Finance will hold a public debate on national management plans for the period of 2008 through 2012.

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