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Asian markets gained in early trading Monday, as oil prices fell and the Bank of Japan met to discuss monetary policy.
Japan’s Nikkei NIK, +2.19% rose 2.2%, and Hong Kong’s Hang Seng index HSI, +1.58% gained 1.6%. The Shanghai Composite SHCOMP, +0.69% edged up 0.6% while the smaller-cap Shenzhen Composite 399106, +0.68% advanced about the same. South Korea’s Kospi 180721, +1.52% rose 1.6%, and benchmark indexes in Taiwan Y9999, +1.85% , Singapore STI, +1.38% and Indonesia JAKIDX, -0.24% gained as well. Australia’s S&P/ASX 200 XJO, +0.73% advanced 0.7%.
Meanwhile, U.S. crude futures CLM20, -8.38% sank below the $16-a-barrel level, while Brent crude BRNM20, -1.91% , the global benchmark, fell as well, though not as sharply
In Tokyo, the Bank of Japan was expected to expand monetary stimulus plans for the second straight month amid the coronavirus pandemic that has crippled global economies. The central bank is expected to keep interest rates unchanged, though.
U.S. stock futures YM00, +0.43% ES00, +0.35% gained late Sunday, ahead of a busy week for quarterly earnings, including reports from some of the biggest tech companies.
Last week, the Dow Jones Industrial Average DJIA, +1.10% fell 1.9%, the S&P 500 SPX, +1.39% declined 1.3% and the Nasdaq COMP, +1.64% retreated 0.2%, marking the first losing week for the benchmarks in the past three weeks.
