Asian markets started the data-light week on the back foot, with major indices posting steep losses. However, a post-election boost helped New Zealand shares outperform their Asian peers, rallying over 1 percent.
Over the weekend, finance ministers and central bank chiefs from the Group of 20 met in the Australian city of Cairns. They said they were close to adding an extra $2 trillion to the global economy and creating millions of new jobs, but noted Europe’s extended slowdown remains a major stumbling block.
Wall Street finished mixed last Friday, as investors welcomed Alibaba’s market debut and Scotland’s vote to remain in the U.K. The Dow 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.