People crossing the street in Shibuya, Tokyo.
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Asia-Pacific markets were mixed on Monday as investors weighed lingering geopolitical concerns.
Sunday in the United States, Canadian Prime Minister Mark Carney said that his country does not intend to conclude a free trade agreement with China, after US President Donald Trump threat impose 100% tariffs on Ottawa if it signs a trade deal with China.
“Canada is honoring our commitments, our commitments. We have commitments under CUSMA (Canada-United States-Mexico Agreement) not to enter into free trade agreements with non-market economies without prior notification. We have no intention of doing so with China or with other non-market economies,” Carney said.
from Japan Nikkei 225 slipped 1.52%, while the Topix fell 1.76%. South Korea’s Kospi added 0.64% while the small-cap Kosdaq advanced 2.28%.
The Japanese yen strengthened 0.45% to trade at around 155.01 against the dollar.
Investors will continue to closely monitor Japanese stocks and the yen after Japanese Prime Minister calls for countering speculative activities in the markets on a sharp strengthening of the yen on Friday, warning that authorities are ready to act if volatility intensifies.
“The yen has rallied in the face of growing intervention risk, with spillover effects on the broader dollar. Although a cautiously hawkish FOMC stance along with resilient data should offer some support, possible intervention on the yen may worsen weak flows for the dollar,” Barclays economists wrote in a note on Sunday.
Hong Kong’s Hang Seng Index slipped 0.26%, while the mainland’s CSI 300 added 0.27%.
Australia S&P/ASX200 added 0.13%.
Spot gold prices hit a record high above $5,000 an ounce as investors flock to safe-haven assets amid geopolitical uncertainties, also helped by a weaker greenback. The US dollar index fell 0.52% to 90.087.
Separately, the Singapore dollar strengthened to 1.271 per dollar, its highest level in more than a decade.
US futures fell on Monday as traders prepared for a big week, with key earnings reports and a US monetary policy meeting.
Dow Jones Industrial Average Futures lost 131 points, or 0.27%. S&P500 And Nasdaq-100 Futures Contracts lost 0.33% and 0.48%, respectively.
Last Friday in the United States, the main benchmark indices closed mixed, with the Nasdaq Composite extended its gains amid easing geopolitical fears while the Dow Jones Industrial Average underperformed.
The tech-heavy Nasdaq advanced 0.28% and settled at 23,501.24, while the blue-chip Dow lost 285.30 points, or 0.58%, closing at 49,098.71. A drop of almost 4% Goldman Sachs weighed on the index of 30 values.
The vast market S&P500 made a marginal gain of 0.03% to end at 6,915.61.
—CNBC’s Sean Conlon and Pia Singh contributed to this report.
