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A general view showing the Hong Kong Skyline on October 13, 2022 in Hong Kong, China.
Nurphoto | Nurphoto | Getty Images
Asia-Pacific markets are set for a weak open in the final week of June, following U.S. markets which snapped a multi-week winning streak Friday.
In an early Monday note, CMC Markets analyst Tina Teng, wrote that “economic concerns took central stage again as recession fears mounted, with spiking rates in both Europe and the US rattling global markets.”
Over the weekend, Europe also saw a brief rebellion by the Wagner private military group in Russia, and markets are likely to be on edge.
In Japan, the Nikkei 225 looks to continue its retreat, with the futures contract in Chicago at 32,690, and its counterpart in Osaka at 32,600 against its last close at 32,781.54. The country will release its producer price index for its services sector in May on Monday.
In Australia, futures for the S&P/ASX 200 were at 7,043, lower than the index’s last close of 7,099.2.
Hong Kong’s Hang Seng index is also poised to fall, with futures at 18,764 compared to the HSI’s close of 18,889.97.
All three major U.S. indexes slid in Friday’s trading session, with the Dow Jones Industrial Average falling 0.65%, while the S&P 500 dropped 0.77% and the Nasdaq Composite closed lower by 1.01%.
— CNBC’s Sarah Min and Samantha Subin contributed to this report
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