Japanese stocks look set for a lower open, with Nikkei futures in Chicago trading 0.3 percent lower at 19,825. Osaka futures were off 0.42 percent at 19,800. This compared to the Nikkei 225’s close of 19,883.9 last Friday.

Australian SPI futures declined 0.34 percent to trade at 5,817 against the ASX 200’s close of 5,836.902.

Stateside, equities closed mixed last Friday after economic data proved to be a mixed bag, and on the back of the drop in retails stocks. The Dow Jones industrial average was down 0.11 percent or 22.81 points to finish at 20,896.61 and the S&P 500 declined 0.15 percent to close at 2,390.9. The Nasdaq gained 0.09 percent or 5.27 points to close at 6,121.23.

Oil prices settled higher in the last session on renewed OPEC output cut hopes. Brent crude futures were up 7 cents to settle at $50.84 a barrel and U.S. crude added 1 cent to settle at $47.84.

In currency news, the dollar gained slightly against a basket of rival currencies at 99.218 after slipping last Friday. Weakness in the dollar was a result of weaker-than-expected economic data out of the U.S. last week. The dollar was also softer against the yen, with the greenback fetching 113.27. Dollar/yen had breached the 114 level last week.

Economic data expected today includes April industrial production and retail sales out of China at 10:00 am HK/SIN. India will also report trade numbers for April at 8:30 pm.