Tokyo, japan (BBN)-Markets in Japan, South Korea, and Australia have kicked off the trading week with a lower start.
Japan’s benchmark Nikkei 225 fell by 1.1 per cent at the open, having shed 178 points to 15,643.24, reports BBC.
Data from Japan this morning showed that core machinery orders fell 9.2 per cent in February compared with the previous month.
That was being seen as a sign that business investment remains subdued for companies operating in Japan.
The core machinery data is a gauge of capital spending in the following six to nine months period.
In South Korea, the benchmark Kospi index was little changed, down by just 0.03 per cent to 1,971.46.
Australian shares also started the week lower, with the benchmark S&P ASX 200 down by 0.29 per cent at 4,923.19.
At the end of last week, stock markets in Europe and US staged a rebound due to a jump in oil prices.
Investor sentiment also got a boost from comments by the head of the US central bank, Janet Yellen, when she said the US economy was on a ‘sound footing’.
As for things to look out for this week – China will release first quarter growth numbers on Friday.
That will be the most-watched gauge on how the world’s second largest economy is performing against a backdrop of a global slowdown.
Analysts are forecasting an expansion of 6.8 per cent when compared to the same period last year.
On Wall Street, the first quarter earnings reporting season for corporate America kicks off later today, with Alcoa being the first to announce its results.
US banks are due to report their quarterly earnings later in the week.