Australia stocks set to slip as investors watch Covid situation in India; China and Japan markets closed

INGAPORE — Stocks in Australia looked set to slip at the open, with a muted trading day expected ahead in Asia-Pacific as major markets in China and Japan are closed for holidays.

Futures pointed to a lower open for Australian stocks. The SPI futures contract sat at 6,995, as compared to the S&P/ASX 200’s last close at 7,025.80.

Investors in Asia-Pacific will continue monitoring the Covid situation in India as the country continues to battle a deadly second wave of infections. Over the weekend, more than 400,000 daily new cases were registered for the first time.

Markets in China, Japan and Thailand are closed on Monday for holidays.


The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 91.255 after rising late last month from below 90.9.

The Japanese yen traded at 109.29 per dollar, weaker than levels below 108.5 against the greenback seen last week. The Australian dollar changed hands at $0.7716, following its tumble in late April from above $0.776.


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