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A gauge of regional shares opened lower, pulling off the four-month closing high struck Friday. While Australian and South Korean markets posted declines, Japanese markets are closed Monday for a holiday.
The drop echoed the downbeat mood in New York trading on Friday, as investors balanced signs of a cooling economy against the prospect of the Federal Reserve showing no signs of rushing to trim interest rates. Data showed US consumers’ long-term inflation expectations rising to the highest level in almost three decade, though Chicago Federal Reserve President Austan Goolsbee downplayed the report.
Treasury futures slipped on Monday. Cash Treasuries trading in Asia is closed due to the holiday in Japan.
The euro rose 0.2% against the dollar after Germany’s conservative leader Friedrich Merz said he’ll move quickly to form a new government following Sunday’s federal election victory.
In Asia, data set for release includes inflation for Singapore and retail sales for South Korea. China’s one-year medium-term lending facility may be released any time through Feb. 25.
Tariff Tensions
Chinese Vice Premier He Lifeng expressed “serious concern” over President Donald Trump’s 10% tariff hike on Chinese goods in a call with Treasury Secretary Scott Bessent, China Central Television reported Friday. For his part, Bessent also signaled concerns on a host of issues with China, including “economic imbalances,” the US Treasury said.
The Trump administration told Mexican officials that they should put their own duties on Chinese imports as part of their efforts to avoid tariffs threatened by the US president, according to people familiar with the matter.
Separately, Trump is directing the Committee on Foreign Investment in the United States to restrict Chinese spending on technology, energy and other strategic US sectors, his administration’s latest salvo against the world’s second-largest economy.
In corporate news, Berkshire Hathaway Inc. is looking to increase ownership in Japan’s five largest trading houses “over time,” Warren Buffett said in an annual letter to shareholders. Saipem SpA and Subsea7 SA agreed in principle to create an oil services company with a combined backlog of €43 billion and expected revenue of about €20 billion.
Also Read: Trade Setup for February 24: Nifty bulls’ resolve to defend 22,800 to be tested further post US crash
