Stocks closed mostly higher in the U.S. on Friday. The Dow Jones industrial average added 0.29 percent, or 62.6 points, to close at 21,349.63, the S&P 500 rose 0.15 percent, or 3.71 points, to close at 2,423.41, and the Nasdaq edged lower by 0.06 percent, or 3.93 points, to end at 6,140.42.
Markets in the U.S. will close early on Monday for the eve of Independence Day.
On the economic calendar for Monday, the Bank of Japan’s Tankan survey for the second quarter was expected at 7:50 a.m. HK/SIN. Australia May building permits were due at 9:30 a.m.
Out of China, Caixin manufacturing PMI for the month of June was due at 9:45 a.m. Official manufacturing PMI released on Friday came in at 51.7, higher than the 51.0 forecast by Reuters, marking a faster-than-expected expansion.
Markets will also be eyeing a “bond connect” program allowing Hong Kong investors to trade in China’s fixed income market. A press release on the Hong Kong Monetary Authority (HKMA) website stated that trial operations of “northbound” trade will begin on Monday.
In energy news, oil prices rose for a seventh consecutive session on Friday. Brent crude futures settled higher by 50 cents at $47.92 a barrel and U.S. crude futures rose $1.11 to settle at $46.04.
In currency news, the dollar index, which measures the greenback against a basket of currencies, was lower, trading at 95.626 at 6:48 a.m. HK/SIN, compared with levels around the 95.63 handle seen in the last session. Against the yen, the dollar continued to trade above the 112 handle, with the greenback fetching 112.26 yen.
The Australian dollar traded at $0.7690, compared with the $0.75 handle seen early last week. The Aussie dollar, which is sensitive to Chinese economic data, had climbed following the beat in China official manufacturing PMI on Friday.
