Back in Asia, markets are also expected to keep an eye on joint U.S.-South Korea military exercises that will take place from Aug. 21 to Aug. 31. The military drills come on the back of a ramp up in geopolitical tensions earlier this month after a heated exchange of rhetoric between Trump and Pyongyang.
Futures suggested little change for Japanese equities at the open. Nikkei futures traded in Chicago were up 0.10 percent at 19,490 while Osaka futures were off 0.05 percent at 19,460. The Nikkei 225 last closed at 19,470.41.
Meanwhile, Australian SPI futures were down 0.77 percent at 5,703 compared to the benchmark index’s Friday close of 5,747.112.
Markets in the Philippines are closed for a public holiday.
In corporate news, there’s interest in telecommunications operator China Unicom, which last week announced plans to raise almost $12 billion in funds as part of mixed ownership reform plans. Shares of the company’s Hong Kong and Shanghai-listed units remained halted from trade as of last Friday and Reuters reports have highlighted confusion over details of one investor, rail construction company CRRC, mentioned in the telco’s plans.
On the energy front, oil prices rose more than 3 percent on Friday on weakness in the dollar and a drop in U.S. oil rigs. Global benchmark Brent crude futures rose 3.3 percent to trade at $52.72 a barrel and U.S. crude climbed 3 percent to $48.51 a barrel, according to Reuters.
Here’s the economic calendar for today (all times in HK/SIN):
- 10:30 a.m.: Thailand second-quarter GDP
- 4:00 p.m.: Taiwan second-quarter export orders
The board of governors of Bank Indonesia, the country’s central bank, will also begin its monthly two-day meeting Monday.