Wednesday, February 8, 2023

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HSBC third-quarter earnings, China Covid, oil prices

SINGAPORE — Shares in Japan were set for a lower start on Monday as investors look ahead to more corporate earnings stateside.

Futures pointed to a lower open for Japanese stocks. The Nikkei futures contract in Chicago was at 28,535 while its counterpart in Osaka was at 28,690. That compared against the Nikkei 225’s last close at 28,804.85.

Stocks in Australia edged higher in Monday morning trade, with the S&P/ASX 200 up 0.57%.

HSBC is set to release its third-quarter earnings on Monday.

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

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The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 93.641 after a recent bounce from below 93.6.

The Japanese yen traded at 113.59 per dollar following its strengthening from above 114 against the greenback late last week. The Australian dollar changed hands at $0.7466, off levels above $0.75 seen in the previous trading week.

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