Asian stocks are expected to kick off the week on the back foot, tracking sharp declines on Wall Street last Friday, as investors fretted about the relentless slide in energy prices.
Australia’s benchmark S&P ASX 200 index dropped 0.5 percent at Monday’s open as commodity-related stocks remained under pressure. Oil and gas producers Oil Search and Santos traded 3.2 and 1.8 percent lower while Rio Tinto lost 2.6 percent.
Trading in Japanese stock futures suggests the benchmark index is set to fall after snapping a three-day losing streak last Friday. Osaka futures eased 0.7 percent to 17,260 while, Chicago futures traded not too far off at 17,240; both below the Nikkei’s previous close of 17,371.
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