Australian stocks slipped on Monday morning as investors remain cautious, following global losses in the previous week.
The benchmark ASX 200 fell 0.93 percent in early trade as most sectors traded down. The heavily weighted financial subindex fell 1.22 percent as major banking shares saw losses — Commonwealth Bank was down 1.09 percent, ANZ fell 1.24 percent, Westpac lower by 1.1 percent and the National Australia Bank declining 1.22 percent.
Futures also pointed to a lower open for Japan's Nikkei 225.
Nikkei futures in Chicago traded at 22,555 while Osaka futures were at 22,570, compared to the index's last close at 22,694.66.
In the previous week, stocks sold off globally as investors fretted over rising interest rates, valuations and worries about a possible economic slowdown. The Dow Jones Industrial Average and S&P 500 finished the week down by more than 4 percent, while the Nasdaq Composite posted a 3.7 percent weekly loss.
Trade tensions between the U.S. and China remain a focus for investors. On Sunday, China's central bank governor Yi Gang said the People's Bank of China still has "plenty of monetary instruments" and "room for adjustment" with respect to countering the impact of a trade war.
On the same day, Chinese ambassador to the U.S. Cui Tiankai told "Fox News Sunday" in an interview that diplomats "don't know who is the final decision-maker" within President Donald Trump's White House.
Elsewhere, the U.S. dollar index, which tracks the greenback against a basket of its peers, traded at 95.344 as of 7:08 a.m. HK/SIN.
The Japanese yen was at 112.16 against the dollar while the Australian dollar traded at $0.7106.
Here is a look at the data to be released in the trading day ahead:
- Japan — Revised industrial production figures and retail sales for the month of August
- South Korea — Revised trade data for the month of September
— CNBC's Fred Imbert contributed to this report.
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