investors watch Chinese retail sales, oil prices


SINGAPORE — Shares in Japan looked set for a lower start as investors continue to assess the economic outlook, with developments in the Russia-Ukraine war being monitored as well as Chinese economic data releases expected on Tuesday.

The Nikkei futures contract in Chicago was at 25,155 while its counterpart in Osaka was at 25,060. That compared against the Nikkei 225’s last close at 25,307.85.

In Australia, the S&P/ASX 200 slipped 0.66% in morning trade.

Oil prices sharply declined overnight, with U.S. crude futures briefly falling below $100 per barrel. International Brent crude futures currently sit at $106.90 per barrel.

Commodity prices have seen wild swings since Russia’s invasion of Ukraine, which raised fears of supply disruptions in an already tight market. Talks between Ukrainian and Russian officials are set to restart on Tuesday, following Monday’s negotiations between the two sides.

Chinese economic data, including industrial production and retail sales for February, is set to be out at 10:00 a.m. HK/SIN on Tuesday. It comes as China is currently facing its worst Covid-19 outbreak since the height of the pandemic in 2020, with major cities including Shenzhen rushing to limit business activity.

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Overnight stateside, the S&P 500 shed 0.74% to 4,173.11 while the tech-heavy Nasdaq Composite dropped 2.04% to 12,581.22. The Dow Jones Industrial Average was little changed at 32,945.24.


The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 98.999 — still higher than levels below 98 seen last week.

The Japanese yen traded at 118.27 per dollar after weakening from below 118 against the greenback yesterday. The Australian dollar was at $0.7193 following yesterday’s decline from above $0.728.


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