- Futures suggest gains in Japan, declines for Hong Kong
- Major currencies are little changed; Bitcoin steadies
Asian stocks were poised for a mixed open Monday after small gains on Wall Street Friday as investors continue to focus on the outlook for interest rates.
Australian shares inched higher while Japanese equity futures pointed to a slight increase. Contracts for the S&P 500 fluctuated after the index added 0.5% Friday. Futures for Hong Kong fell earlier, as did a gauge of US-listed Chinese shares.
The dollar stuck within narrow ranges against its Group-of-10 counterparts. Government bond yields edged up in Australia and New Zealand, following moves in Treasuries Friday, with more policy-sensitive shorter maturities leading the way.
Markets this week will be looking to minutes of the most recent Federal Reserve policy meeting for more clues on the course of rate hikes.
Atlanta Fed President Raphael Bostic said he favors slowing the pace of interest rate increases, with no more than 1 percentage point more of hikes, to try to ensure the economy has a soft landing. Boston Fed President Susan Collins reiterated her view that options are open for the size of the December interest-rate increase, including the possibility of a 75 basis-point move.
Meanwhile, China reported its first Covid-related death in almost six months, sparking concern it could return to tighter restrictions. While many global investors are piling back into the nation’s assets on signs of a more market-friendly tone in Beijing, others remain wary of policy risks.