Over in Beijing, international business leaders, international organizations and Chinese policymakers gather for the 18th session of the China Development Forum.
U.S. Secretary of State Rex Tillerson met with Chinese President Xi Jinping for 30 minutes on Sunday and said that President Donald Trump anticipated a meeting soon, Reuters reported.
IBM and a unit of China’s Dalian Wanda Group agreed on Sunday to team up to provide cloud services for Chinese firms through a newly formed venture, Wanda Cloud Company.
In Southeast Asia, oilfield services firm Ezra Holdings of Singapore filed for U.S. Chapter 11 bankruptcy on Saturday. The company had been trying to restructure and said in February it faced a “going concern issue” if it did achieve a favorable outcome.
Oil prices were steady last Friday after dropping nearly 10 percent for the week on concerns of a continued global supply overhang. Brent crude settled at $51.76 a barrel, while U.S. crude settled at $48.78.
The dollar was trading at 100.3 against a basket of currencies early Asian time. The yen strengthened to 112.71, falling below the 113 handle, against the greenback. The Australian dollar was stronger at $0.7704 as of 6:55 am HK/SIN.
U.S. stocks closed mixed Friday, dragged down by declines in financial and health care stocks.
The Dow Jones industrial average closed down 0.1 percent to 20,914.62, while the S&P 500 slipped 0.13 percent to 2,378.25.The Nasdaq composite closed flat at 5,901.00.
