Asian equities started the week on the back foot, overlooking another record finish on the Dow amid a mixed finish on Wall Street last Friday. New Zealand shares outperformed, rallying over 1 percent following the re-election of the National government over the weekend.
U.S. stocks mostly rose on Friday, as investors welcomed Alibaba’s market debut and Scotland’s vote to remain in the U.K. The Dow Jones Industrial Average ended up 0.1 percent, leaving it 1.7 percent higher on the week. The S&P 500 was little changed while the tech-heavy Nasdaq shed 0.3 percent.
Over the weekend, finance ministers and central bank chiefs from the Group of 20 met in the Australian city of Cairns and said they were close to adding an extra $2 trillion to the global economy and creating millions of new jobs, but Europe’s extended slowdown remains a major stumbling block.