SINGAPORE – Asia Pacific stocks looked mixed on Monday as investors look to the Hong Kong opening after the Hang Seng index plunged into a bear market last week.
Futures indicated a higher open for Japanese stocks. The Nikkei futures contract in Chicago was at 27,270 while its Osaka counterpart was at 27,240. This is compared to the Nikkei 225’s last closing price at 27,013.25.
Australian stocks, on the other hand, appeared to be falling. The SPI futures contract was 7.423.0, compared to the last closing price of the S & P / ASX 200 at 7.460.90.
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Investors will be watching the Hong Kong market, which opens at 9:30 a.m. HK / SIN after the Hang Seng index fell more than 20% from its mid-February high through heavy losses last week as regulatory uncertainty over the outlook continues to cloud for Chinese technology companies.
Other factors that could weigh on investor sentiment include concerns about a possible withdrawal of monetary policy stimulus by the US Federal Reserve and the continued proliferation of the Delta-Covid-19 variant.
The US dollar index, which tracks the greenback versus a basket of its competitors, hit 93.487 after its recent surge from below 93.2.
The Japanese yen was trading at 109.85, stronger than levels above 110 against the greenback last week. The Australian dollar was trading at $ 0.714 after falling above $ 0.729 last week.