Asian Stock Markets
Asian stocks struggled for traction Monday with energy shares
tumbling after oil extended its biggest drop in about a year. The euro
rallied after Italy’s president rejected a candidate for finance
minister who’s been skeptical of the single currency.
Benchmarks dipped in Tokyo and Australia. South Korean stocks rose, as did U.S. futures, after President Donald Trump appeared to confirm that his June summit with North Korea’s Kim Jong Un was back on.
Hong Kong stocks advanced. Euro Stoxx 50 futures gained.
The MSCI Asia Pacific Energy Index had the biggest decline after a Saudi minister said petroleum supply would likely rise in the second half. Oil slid further below $70 a barrel while the dollar slipped against most major peers.
Trading may be subdued round the world by U.S. and U.K. holidays Monday.
Investors turn their attention to the economy this week with readings on European inflation, Chinese manufacturing and Friday’s U.S. jobs report, the last before Federal Reserve policy makers meet in June. Italian assets will be in focus after that country sank deeper into political uncertainty, with populist leaders failing in their attempt to form a government.
Elsewhere, the Indonesian rupiah climbed amid speculation of another interest rate hike by the central bank, while the nation’s stocks and sovereign bonds also rallied, with the 10-year yield sliding about 20 basis points.
S&P/ASX 200 Index fell 0.5 percent.
Kospi index rose 0.8 percent.
Hang Seng Index gained 0.7 percent. Shanghai Composite Index fluctuated.
Futures on the S&P 500 advanced 0.5 percent.
Euro Stoxx 50 futures climbed 0.5 percent as of 8:05 a.m. in Frankfurt.
MSCI Asia Pacific Index rose 0.1 percent.
The Japanese yen fell 0.2 percent to 109.60 per dollar.
The rupiah gained 0.9 percent to 13,990 per dollar.
West Texas Intermediate crude plunged 2.4 percent to $66.24 a barrel after tumbling 4 percent on Friday.
Benchmarks dipped in Tokyo and Australia. South Korean stocks rose, as did U.S. futures, after President Donald Trump appeared to confirm that his June summit with North Korea’s Kim Jong Un was back on.
Hong Kong stocks advanced. Euro Stoxx 50 futures gained.
The MSCI Asia Pacific Energy Index had the biggest decline after a Saudi minister said petroleum supply would likely rise in the second half. Oil slid further below $70 a barrel while the dollar slipped against most major peers.
Trading may be subdued round the world by U.S. and U.K. holidays Monday.
Investors turn their attention to the economy this week with readings on European inflation, Chinese manufacturing and Friday’s U.S. jobs report, the last before Federal Reserve policy makers meet in June. Italian assets will be in focus after that country sank deeper into political uncertainty, with populist leaders failing in their attempt to form a government.
Elsewhere, the Indonesian rupiah climbed amid speculation of another interest rate hike by the central bank, while the nation’s stocks and sovereign bonds also rallied, with the 10-year yield sliding about 20 basis points.
S&P/ASX 200 Index fell 0.5 percent.
Kospi index rose 0.8 percent.
Hang Seng Index gained 0.7 percent. Shanghai Composite Index fluctuated.
Futures on the S&P 500 advanced 0.5 percent.
Euro Stoxx 50 futures climbed 0.5 percent as of 8:05 a.m. in Frankfurt.
MSCI Asia Pacific Index rose 0.1 percent.
The Japanese yen fell 0.2 percent to 109.60 per dollar.
The rupiah gained 0.9 percent to 13,990 per dollar.
West Texas Intermediate crude plunged 2.4 percent to $66.24 a barrel after tumbling 4 percent on Friday.
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