US markets were closed overnight due to labour day.
Shifting to European markets, the Stoxx 600 index ended little changed from the previous session, paring gains after hitting its highest level since Aug. 9 in morning trade.
Travel and leisure stocks gained 0.5 per cent as sentiment around equities brightened following Friday’s US jobs report. Investors saw signs of a slowdown which could rein in Federal Reserve hawkishness.
The European basic resources sector closed 0.6 per cent higher, meanwhile, after China announced a set of stimulus measures and support for its struggling property sector.
Also Monday, German trade data showed a 0.9 per cent month-on-month fall in exports in July, while imports rose by 1.4 per cent. Economists polled by Reuters had forecast a 1.5 per cent month-on-month decline in July exports for Europe’s largest economy, which is slowing in many areas.
Shifting to China, Hong Kong’s Hang Seng index led gains in the region on Monday, powered by a surge in property stocks as other Asia-Pacific markets were mixed to start the week.
The HSI jumped 2.46 per cent in its final hour of trade, while mainland markets were also in positive territory, with the benchmark CSI 300 up 1.52 per cent and closing at 3,848.95.
Investors will look to key data from Australia and China later in the week, such as the Reserve Bank of Australia’s rate decision on Tuesday, while China is expected to release its trade balance for August on Thursday and its inflation rate next weekend.
Japan’s Nikkei 225 also climbed 0.7 per cent to close at 32,939.18, marking a six day winning streak and its highest level in over a month. The Topix finished 1.02 per cent higher at 2,373.73, also marking six straight days of gains.
Futures
The SPI futures are pointing to a 0.3 per cent fall.
Currency
One Australian dollar at 7:20 AM was buying 64.59 US cents.
Commodities
Gold lost 0.15 per cent. Silver fell 0.90 per cent. Copper declined 0.51 per cent. Oil added 0.50 per cent.
Figures around the globe
European markets closed lower. London’s FTSE fell 0.16 per cent, Frankfurt slipped 0.10 per cent, and Paris closed 0.24 per cent lower.
Turning to Asian markets, Tokyo’s Nikkei added 0.70 per cent, Hong Kong’s Hang Seng gained 2.51 per cent while China’s Shanghai Composite closed 1.40 per cent higher.
The Australian sharemarket closed 0.56 per cent higher at 7,319.
Sources: Bloomberg, FactSet, IRESS, TradingView, UBS, Bourse Data, Trading Economics, CoinMarketCap.
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