SINGAPORE — Stocks in Japan were set to trade mixed at the open as new coronavirus cases surge in the U.S. as well in countries across Europe.
Futures pointed to a mixed open for Japanese stocks. The Nikkei futures contract in Chicago was at 23,515 while its counterpart in Osaka was at 23,560. That compared against the Nikkei 225’s last close at 23,516.59.
Shares in Australia edged higher in early trade, with the S&P/ASX 200 up about 0.3%.
The Hong Kong market is closed on Monday for a holiday.
Meanwhile, oil prices dropped. International benchmark Brent crude futures fell 1.68% to $41.07 per barrel, as of 7:27 a.m. HK/SIN. U.S. crude futures also declined 1.73% to $39.16 per barrel.
Developments out of China are set to be watched, as the country’s top leaders meet this week to plan for the next five years.
Investor focus on Monday will also likely be on the deteriorating coronavirus situation in the West, with the U.S. recently reporting a record-breaking number of new virus cases.
Over in Europe, cases have also surged, with Reuters reporting that France registered record daily coronavirus infections while Italy ordered bars to close early and shut public gyms in a bid to stem a resurgence in the virus.
Currencies
The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 92.848 after its bounce from levels below 92.8 last week.
The Japanese yen traded at 104.73 per dollar after strengthening from levels above 105 against the greenback last week. The Australian dollar changed hands at $0.7123 following a rise form levels below $0.704 in the previous trading week.
Source: CNBC