Asian shares see weak session ahead of U.S. figures
Asian share markets recorded a subdued performance during their early Monday trade. This followed after China and Japan compressed volumes, with investors also waiting for a set of data showing that the United States is recovering ahead of its peers.
After a minimal decline on Friday, MSCI’s broadest index of Asia-Pacific shares outside Japan traded flatly. Japan’s benchmark Nikkei was off for a holiday, while its futures traded 0.2% higher. Wall Street rallied further, with futures for the Nasdaq and the S&P 500 tallying a 0.3% increase.
The United States economy is expected to stage a strong rebound, with investors waiting for the country’s ISM manufacturing and April payrolls this week. An expansion is expected as consumer spending jumped and the country’s economy allowed more activity.