The ASX 200 is poised to open lower on Monday, as concerns about higher interest rates and declining iron ore prices weigh on sentiment.
By 8 am AEDT (9 pm GMT) ASX 200 futures were trading 39 points or 0.5% lower at 8,267.
The local market is coming off its worst week since August, as traders pulled back from the recent record-high valuations.
Fears are mounting over U.S. President-elect Donald Trump’s tariff proposals, which include levies on China, Canada, and Mexico.
Meanwhile, iron ore prices continued their decline, falling 1.2% on Friday. The market was further disappointed by the outcome of China’s Central Economic Work Conference, where hopes for significant stimulus measures to bolster the country’s economic recovery were dashed.
Ahead in the week, local investors will be closely monitoring Chinese industrial production and retail sales, interest rate decisions from the Federal Reserve and Bank of Japan, as well as inflation readings from several countries including Canada and the U.K.
Among individual companies, data centre landlord DigiCo Infrastructure REIT will remain in focus after its underwhelming ASX debut last week, as shares dropped to $4.55 from their $5 initial offering price.
On the bond markets, 10-year and 2-year rates were at 4.349% and 3.928%, respectively.