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Asia-Pacific stocks set for mixed start after Wall Street losses

SINGAPORE — Shares in Asia-Pacific looked set for a mixed start on Tuesday following overnight declines for the Dow Jones Industrial Average and S&P 500 on Wall Street.

Futures pointed to a higher open for Japanese stocks. The Nikkei futures contract in Chicago was at 27,925 while its counterpart in Osaka was at 27,870. That compared against the Nikkei 225’s last close at 27,820.04.

Australian stocks, on the other hand, looked poised to slip. The SPI futures contract sat at 7,463.0, against the S&P/ASX 200’s last close at 7,538.40.

Investors will watch shares of companies related to South Korean conglomerate Samsung after the South Korea’s justice ministry announced Monday that the firm’s heir Jay Y. Lee is set to be released on parole later this week, according to Reuters.

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Overnight stateside, the Dow declined 106.66 points to 35,101.85 while the S&P 500 slipped about 0.1% to 4,432.35. The Nasdaq Composite outperformed, rising 0.16% to 14,860.18.

Worries about the impact of Covid on global growth continued to weigh on investor sentiment, with countries grappling with the spread of the highly transmissible delta variant of the virus.

Currencies

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 92.945 following a climb late last week from below 92.4.

The Japanese yen traded at 110.32 per dollar, weaker than levels below 109 seen against the greenback last week. The Australian dollar changed hands at $0.733, below levels above $0.735 seen yesterday.


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