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Asia-Pacific stocks little changed as investors watch Covid situation in India; China and Japan markets closed – CNBC

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SINGAPORE — Stocks in Asia-Pacific were little changed in Monday morning trade, with a muted trading day expected ahead as major markets in China and Japan are closed for holidays.

South Korea’s Kospi hovered above the flatline in early trade. Over in Australia, the S&P/ASX 200 was flat.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.05% lower.

Investors in Asia-Pacific will continue monitoring the Covid situation in India as the country continues to battle a deadly second wave of infections. Over the weekend, more than 400,000 daily new cases were registered for the first time.

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Markets in China, Japan and Thailand are closed on Monday for holidays.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 91.231 after rising late last month from below 90.9.

The Japanese yen traded at 109.37 per dollar, weaker than levels below 108.5 against the greenback seen last week. The Australian dollar changed hands at $0.7714, following its tumble in late April from above $0.776.

Oil prices were higher in the morning of Asia trading hours, with international benchmark Brent crude futures up 0.27% to $66.94 per barrel. U.S. crude futures also gained 0.3% to $63.77 per barrel.

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