Pedestrians cross an intersection in Shibuya Ward, Tokyo, Japan, Tuesday, February 6, 2024.
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The Asia-Pacific market will continue to Friday selling Investors are focused on important trade data from China and Taiwan this week, as well as decisions from the central banks of Australia and India.
Markets in the region tumbled on Friday, led by Japanese stocks Nikkei 225 Index and Topix fell more than 5% and 6% respectively.
broader Topix hits worst day in eight yearswhile the Nikkei had its worst day since March 2020.
On Monday, S&P Global will release data on services sector activity for countries in the region, including India and China.
Japan’s Nikkei 225 Index Futures opened weaker, with the Chicago futures contract at 34,725 points and the Osaka futures contract at 34,800 points, compared with the previous closing price of 35,909.7 points. At this level, the Nikkei would reach its highest level since January.
Australian futures S&P/ASX 200 Index It closed at 7,770 points, lower than the last closing price of 7,943.2 points.
The Reserve Bank of Australia begins a two-day monetary policy meeting on Monday. Economists polled by Reuters expect the central bank to hold interest rates steady at 4.35%, but markets will closely watch the monetary policy statement for clarity on whether the central bank is still considering raising rates.
Hongkong Hang Seng Index The futures index was at 16,901 points, lower than the Hang Seng Index’s last closing point of 16,945.51 points.
U.S. stocks fell sharply on Friday Employment report weaker than expected July’s recession sparked fears the economy could slip into recession.
The Nasdaq index was the first of the three major benchmark indexes to enter the correction range, falling more than 10% from its historical high. The S&P 500 and Dow Jones are respectively 5.7% and 3.9% below their all-time highs.
this S&P 500 Index fell 1.84%, while Nasdaq Index down 2.43%. this Dow Jones Industrial Average It fell 610.71 points, or 1.51%.
—CNBC’s Pia Singh and Hakyung Kim contributed to this report.
