Tokyo, Japan
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Asia-Pacific markets are set to move higher on Monday, with Japanese markets continuing to hit 33-year highs.
this Nikkei 225 Index It has risen every week for the past 10 weeks and will extend gains with a strong open. The Chicago futures contract was at 33,810 and the Osaka futures contract was at 33,700. The last closing price was 33,706.08.
In Australia, futures S&P/ASX 200 It closed at 7,226, above the index’s last close of 7,251.2.
In contrast, Hong Kong’s Hang Seng Index appeared to start the week lower after a strong rebound last week. Compared with the closing price of the Hang Seng Index at 20,040.37, the HSI futures were at 19,988.
Investors in Asia will focus on Tuesday’s decision on China’s prime lending rate after the world’s second-largest economy cut some key lending rates last week.
On the diplomatic front, U.S. Secretary of State Anthony Blinken is on a diplomatic mission in Beijing to repair tensions between the U.S. and China.
U.S. markets were closed on Monday for a holiday. All three major stock indexes closed lower on Friday after strong performances earlier in the week. The Fed notably left rates unchanged after last week’s FOMC meeting, breaking a streak of 10 consecutive rate hikes.
The S&P 500 fell 0.37% and the Nasdaq Composite fell 0.68%, but both indexes still posted their best weekly performances since March. The Dow Jones Industrial Average fell 0.32%, but rose for the third straight week.
—CNBC’s Brian Evans and Alex Harring contributed to this report