Asian equity markets look set to gain some initial support from a strong finish for U.S. stocks and as oil added to an advance that took it back above $50 a barrel, buoying energy producers.
Equity-index futures in Japan, Australia and Hong Kong all pointed higher, though gains in Tokyo maybe limited by a stronger yen. The S&P 500 Index closed higher on Friday, but the rally was curbed by reports that investigators are focused on a current White House official as a person of interest in the Russia probe. Oil extended gains after Saudi Arabia’s energy minister said all producers participating in a deal to limit output agree on extending the cuts by nine months. North Korea conducted another ballistic missile test on Sunday, firing a projectile about 500 kilometers (311 miles) into the Sea of Japan. The Aussie retreated.
Here are the main moves in markets:
- The yen rose 0.1 percent to 111.17 per dollar as of 7:14 a.m. in Tokyo.
- The Aussie fell 0.1 percent to 74.50 U.S. cents.
- Crude climbed 0.6 percent to $50.61 per barrel, extending a 2 percent advance Friday.
- Futures trading from the most recent sessions late Friday showed the Nikkei 225 and the Hang Seng both gaining 0.4 percent, while contracts on the S&P/ASX 200 Index climbed 0.5 percent.
- The S&P 500 rose 0.7 percent Friday. Ten-year Treasuries had their best week in a month last week, with the yield closing at 2.23 percent.
Source: Bloomberg Pro Terminal
Jr Trader Petar Milanov
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