Asia-Pacific stocks set to open lower after Wall Street sell-off

Asia-Pacific stocks set to open lower after Wall Street sell-off


SINGAPORE — Shares in Asia-Pacific are expected to open lower on Monday following a sell-off on Wall Street on Friday.

The Nikkei futures contract in Chicago was at 26,705 while its counterpart in Osaka was at 26,710. That compared against the Nikkei 225’s last close at 27,105.26.

Australia and New Zealand markets are closed on Monday for a holiday.

U.S. stock futures were down slightly after a sell-off Friday, when the Dow Jones Industrial average plunged more than 900 points. The S&P 500 closed down 2.8% at 4,271.78, for its worst day since March. The Nasdaq Composite slipped 2.6% to 12,839.29. 

On the economic data front, Singapore is set to report consumer price inflation.

Chinese telecommunications company ZTE and South Korea’s Hyundai Motor will report earnings on Monday.

Stock picks and investing trends from CNBC Pro:

Currencies

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 101.107.

The Japanese yen weakened and was last trading at 128.67 per dollar. It crossed the 129 level last week before strengthening slightly. The Australian dollar was at $0.7238.

 U.S. crude futures were down 1.37% early on Monday to trade at $100.67 per barrel. International benchmark Brent crude futures down 1.36% to $105.20 per barrel.



Source

Stock futures rise as traders weigh Fed’s super-sized rate cut: Live updates
World

Stock futures rise as traders weigh Fed’s super-sized rate cut: Live updates

A trader works on the trading floor at the New York Stock Exchange following the Federal Reserve rate announcement on Sept. 18, 2024. Andrew Kelly | Reuters U.S. stock futures rose Wednesday night as traders digested the Federal Reserve’s earlier decision to lower interest rates by a half percentage point. Dow Jones Industrial Average futures […]

Read More
Asia-Pacific markets open higher as investors digest outsized Fed rate cut
World

Asia-Pacific markets open higher as investors digest outsized Fed rate cut

The Bank of Japan headquarters is seen in Tokyo on January 30, 2017. The Bank of Japan will pull the plug on its eight-year negative interest rate policy in April, according to more than 80% of economists polled by Reuters, marking a long-awaited major shift from a global outlier central bank. Kazuhiro Nogi | Afp | […]

Read More
Powell downplays impact of rate cut on Trump-Harris presidential race
World

Powell downplays impact of rate cut on Trump-Harris presidential race

U.S. Vice President Kamala Harris in Milwaukee, Wisconsin, U.S. August 20, 2024 and former U.S. President Donald Trump in Bedminster, New Jersey, U.S., August 15, 2024 are seen in a combination of file photographs.  Marco Bello | Jeenah Moon | Reuters Federal Reserve Chair Jerome Powell suggested that Wednesday’s larger-than-expected interest rate cut may have […]

Read More