Japan stocks rally, yen resumes fall after G20
after a week-long holiday.
STOCKS CONSOLIDATE
Data from EPFR Global on Friday underscored that a consolidation was underway in global equities after their recent rally. It showed investors worldwide pulled $3.62 billion from U.S. stock funds in the latest week, the most in ten weeks after taking a neutral stance the prior week. But demand for emerging market equities remained strong, with investors putting $1.81 billion in new cash into stock funds, the fund-tracking firm said.
Demand for commodities will likely be in focus as China returns to the market.
Investors are also expected to focus on fiscal talks in Washington, where policymakers are discussing a package of budget cuts set to kick in on March 1. Analysts say the austerity measures could hurt the U.S. economy.
U.S. crude fell 0.2 percent to $95.63 a barrel but Brent inched up 0.1 percent to $117.81.
Gold rebounded from a six-month low on Monday as bargain hunters resurfaced and jewellers in China returned to the physical market after the Lunar New Year holiday, but a firm U.S. dollar was likely to limit the upside.
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