HSBC third-quarter earnings, China Covid, oil prices

SINGAPORE – Stocks in Japan are set for a lower start on Monday as investors eye more corporate earnings in the United States.

Futures pointed to a lower open for Japanese stocks. Chicago’s Nikkei futures were 28,535 while its counterpart in Osaka was 28,690. This compares with the Nikkei 225’s last close at 28,804.85.

Shares in Australia were higher in morning trading on Monday, with the S&P/ASX 200 index up 0.57%.

HSBC is due to report its third-quarter earnings on Monday.

Meanwhile, the Covid-19 situation in China may affect investor sentiment after an official warned that the outbreak could spread further, Reuters reported on Sunday.

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The US Dollar Index, which measures the greenback against a basket of its peers, was at 93.641 after the recent bounce from the 93.6 low.

The Japanese yen was trading at 113.59 against the dollar after strengthening from above 114 against the dollar late last week. The Australian dollar was trading at $0.7466, breaking levels above $0.75 seen in the previous trading week.

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