Asian-Pacific markets started the week in a mixed fashion as investors tempered rate-cut bets amid stronger-than-expected economic data from the U.S. over the weekend.
By 11:35 AEDT (12:35 am) Australia's ASX 200 fell 0.2%, Japan's Nikkei 225 dipped 0.7%, and South Korea's Kospi 200 added 1.9%.
Ahead in the week, investors from Asia will closely monitor Australia’s central bank meeting minutes and Japanese trade data on Tuesday, as well as China’s loan prime rate, set to be released Wednesday.
In the U.S, markets fell on Friday with the Dow down 0.7%, S&P 500 falling 1.3%, and the Nasdaq Composite down 2.2%.
Among S&P 500 companies, top gainers included Palantir, up 11.1%, Walt Disney, adding 5.4% and DaVita, up 3.9%.
Losses were led by Applied Materials, down 9.2%, Omnicom Group, dipping 7.8%, and Moderna, which fell 7.3%.
Fed funds futures also dropped to 61.9% likelihood for a 25 basis-point rate cut, according to the CME Group FedWatch Tool.
Among commodities, spot gold added $7.8 or 0.3% to US$2,571.11, while Brent crude prices fell $0.12 or 0.2% to US$70.92
In China, the Shenzhen Composite fell 49.1 points or 1.5% to 3,330.7 while the CSI 300 dipped 70.8 points or 1.8% to 3,968.8.
In Hong Kong, the Hang Seng Index declined 9.5 points or 0.1% to 19,426.3.
In India, the SENSEX dropped 110.6 points or 0.1% to 77,580.3.
In European markets, the FTSE 100 fell 7.58 points or 0.1% to 8,063.61, the DAX slipped 52.9 points or 0.3% to 19,210.8, and the CAC 40 lost 42.2 points or 0.6% to 7,269.6.