This is CNBC’s live blog covering Asia-Pacific markets.
Asia-Pacific markets were set to open mixed Monday as investors gear up for a busy week that includes the U.S. presidential election and Federal Reserve’s monetary policy meeting.
Investors will also closely watch China’s parliament that’s scheduled to kick off on Monday. Chinese authorities are expected to announce more details on fiscal support when the meeting concludes on Friday.
China’s October trade data is due on Thursday after downbeat exports and imports growth in September.
Japan’s markets were closed Monday for a holiday.
South Korea’s blue chip Kospi added 0.14% while the small-cap Kosdaq gained 0.2%.
Futures for Hong Kong’s Hang Seng index stood at 20,490, lower than their Friday close of 20,506.43.
Australia’s S&P/ASX 200 started the day up 0.18%.
Overnight in the U.S., stock futures slipped. Futures tied to the Dow Jones Industrial Average dipped 0.3%, while the S&P 500 futures lost 0.25%, and the Nasdaq-100 futures dropping 0.3%.
U.S. crude futures jumped over 1% on Monday as the OPEC+ member countries agreed to delay a planned December output increase by one month. West Texas Intermediate jumped 1.42% to $70.47 per barrel and Brent climbed 1.37% to $74.10.
— CNBC’s Samantha Subin contributed to this report.
Clarification: This story has been updated to reflect that Japan markets are closed for a holiday.
Stock futures open lower as Wall Street readies for U.S. presidential election
Stock futures opened lower in overnight trading Sunday as Wall Street awaited Tuesday’s U.S. presidential election.
Futures connected to the Dow Jones Industrial Average lost 0.3%, or 130 points, while S&P 500 futures declined 0.25%. Nasdsq-100 futures dropped 0.3%
— Samantha Subin
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Sun remains positive on the sector’s growth following a 31% year-to-date jump in EV sales to around 8 million units at the end of the third quarter. This translates to a penetration rate of 49% of China’s auto market in September.
Sun, along with Jason Hsu, founder and chief investment officer at Rayliant Global Advisors, share their take on the sector.
CNBC Pro subscribers can read more here.
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Stephen Yiu, chief investment officer of Blue Whale Growth Fund, revealed that his fund had previously sold out of Meta Platform shares in 2022 due to doubts over the company’s Metaverse strategy. He is now backing Meta’s plans to spend billions on AI.
CNBC Pro subscribers can read more here.
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