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Japan (NKY:IND) -1.00%. The Japanese yen stabilized around 151.2 per dollar, halting a sharp decline on fears that authorities may intervene in currency markets again.
The index of leading economic indicators in Japan was revised downward to 109.5 in January 2024 109.9 in preliminary estimates, and after a downwardly revised 109.9 in December 2023.
The index of coincident economic indicators in Japan, which covers a range of data, such as industrial production, employment and retail sales, was revised upward to 112.1 in January 2024 from the flash reading of 110.2 .
China (SHCOMP) +0.19%. The offshore yuan appreciated above 7.25 per dollar, rebounding sharply from four-month lows after reports that Chinese state banks supported the currency by selling dollars in onshore markets.
Investors were eager to open new positions after Chinese Premier Li Qiang said on Sunday that Beijing was stepping up policy measures to support the recovery.
Investors now await with interest the latest data on manufacturing and services activity in the coming days to gauge the health of the world’s second-largest economy.
Hong Kong (HSI) +0.17%.
Indian markets (SENSEX) closed.
Australia (AS51) +0.53%.
In the United States, all three major indexes closed mixed on Friday, as a record-breaking rally fueled by optimism that the Federal Reserve will cut rates three times this year came to a halt.
U.S. stock futures held steady Monday as investors continued to weigh the outlook for the economy and monetary policy: Dow -0.23%; S&P500 -0.18%; Nasdaq -0.17%.
The report on the US PCE price index, which is the Federal Reserve’s preferred inflation indicator, will be released on Friday. U.S. central bank officials, led by Fed Chair Jerome Powell, will also deliver speeches at various events this week.
Australia is due to release inflation data on Wednesday, while Tokyo inflation data, a leading indicator of price trends nationwide, is expected on Friday.
It will be a busy week in Japan with BoJ views summing up, unemployment rate, industrial production, retail sales and real estate starts. Finally, Canada will release its February GDP growth estimates.
Currencies: (JPY:USD), (CNY:USD), (AUD:USD), (INR:USD), (HKD:USD), (NZD:USD).