Asia-Pacific markets set to open mixed as investors assess Wall Street's rally
Investors in the region will also be keeping a close watch on Japanese markets, which reopen after its election over the weekend.
Good morning from Singapore.
Investors will be keeping a close watch on Japan's equity and bond markets, which will reopen after a national holiday following its election.
The Japanese yen strengthened against the greenback on Monday, after weakening in the weeks leading up to the election.
Japan's benchmark Nikkei 225 was set to open higher, with the futures contract in Chicago at 39,830 while its counterpart in Osaka last traded at 39,820, against the index's last close of 39,819.11.
Futures for Hong Kong's Hang Seng index stood at 25,049, pointing to a stronger open compared with the HSI's Monday close of 24,994.14.
Australia's S&P/ASX 200 was set to start the day lower with futures tied to the benchmark at 8,660, compared with its last close of 8,668.20.
— Amala Balakrishner
The stock market may be unusually calm, with the CBOE Volatility Index (VIX) remaining notably muted all month in spite of ongoing risks around trade and inflation, one strategist said. However, that could change quickly in the coming weeks.
"With next week bringing the FOMC meeting, GDP data, a key tariff deadline, and a wave of earnings — in a historically weak window for the markets — even small surprises could trigger sharp reactions," wrote Mark Hackett, chief market strategist at Nationwide. "We're in a window where calm can quickly turn to complacency."
"While a break in either direction is possible, current positioning suggests we'd bet on a rally before a drop," Hackett wrote.
— Sarah Min
The S&P 500 and the Nasdaq Composite finished Monday's session with fresh closing records after both indexes scored new all-time intraday highs.
The broad market S&P 500 gained 0.14% to close at 6,305.60, while the tech-heavy Nasdaq climbed 0.38% to end at 20,974.17. In contrast, the blue-chip Dow Jones Industrial Average declined 19.12 points, or 0.04%, to finish at 44,323.07.
— Sean Conlon
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