Asia-Pacific markets were set to open lower Monday, after Wall Street declined Friday stateside as investors took a breather from the AI trade.
″[Friday] is a value-outperforms-growth day,” said Jed Ellerbroek, portfolio manager at Argent Capital Management. “Investors are definitely skittish as it relates to AI — not outright pessimistic, but just kind of, I think, cautious and nervous and hesitant.”
Traders in Asia will also look toward key data from Japan and China on Monday, with China releasing its retail sales, fixed asset investment and industrial output numbers for November.
Japan will announce its fourth-quarter Tankan numbers. The Tankan survey, conducted by the Bank of Japan, measures business sentiment among companies in the world’s fourth largest economy.
Australia’s S&P/ASX 200 started the day down 0.66%. On Sunday, the country suffered its worst gun attack in over 30 years that left at least 15 dead.
