SYDNEY : Asian shares started cautiously on Monday after their best weekly run in five months, as investors looked ahead to China’s rate decision and U.S. Federal Reserve Chair Jerome Powell’s testimonies for clues on the rate path ahead.
S&P 500 futures rose 0.1 per cent early in Asia while Nasdaq futures firmed 0.3 per cent. Cash U.S. Treasuries were untraded owing to the Juneteenth holiday, while futures were up a fraction with little liquidity.
In Asia, Japan’s Nikkei fell 0.5 per cent, having clinched a fresh three-decade top on Friday, buoyed by the Bank of Japan’s (BOJ) decision to leave its ultra-easy policy setting unchanged, which has sent the yen to a 7-month low against the U.S. dollar.
MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.1 per cent lower, after hitting a four-month high on Friday and finishing up 3 per cent for the week, the best since January.
