Japanese
stocks fell, with the Topix index retreating from a six-week high, as
trading resumed after a holiday. Energy-related shares led losses after
crude oil plunged.
The
Topix dropped 0.5 percent to 1,507.81 as of 9:02 a.m. in Tokyo, with
three shares falling for every two that rose. The Nikkei 225 Stock
Average declined 0.6 percent to 18,335.29. Both gauges last week posted
their biggest weekly gain since July. The yen traded at 120.04 per
dollar after strengthening 0.2 percent on Monday.
E-mini
futures on the Standard & Poor’s 500 Index were little changed
after the underlying gauge added 0.1 percent on Monday, rising for a
fourth day amid reduced volume.
China
is due to report trade data Tuesday that is forecast to show ongoing
contraction in exports and imports, potentially reigniting the concerns
that fueled last quarter’s volatility or stoking bets on further easing
from the country’s central bank.
Source: Bloomberg
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