Asia stocks set for positive start to the week; China's May trade data ahead

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SINGAPORE — Shares in Asia-Pacific were mixed in Monday morning trade as investors looked ahead to Chinese trade data for May.

Mainland Chinese stocks were mixed, with the Shanghai composite mildly higher while the Shenzhen component slipped 0.523%. Hong Kong’s Hang Seng index declined 0.65%.

The Nikkei 225 gained 0.33% while the Topix index rose fractionally. South Korea’s Kospi advanced 0.1%.

In Australia, the S&P/ASX 200 climbed 0.14%.

MSCI’s broadest index of Asia-Pacific stocks outside Japan traded 0.19% lower.

Looking ahead, China’s trade data for May is expected to be out at 11:00 a.m. HK/SIN on Monday.

In other developments, finance ministers from the Group of Seven over the weekend backed a U.S. proposal that calls for firms globally to pay at least 15% tax on earnings.

Markets in Malaysia and New Zealand 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 90.174 following a recent decline from above 90.4.

The Japanese yen traded at 109.57 per dollar, after strengthening late last week from above 110.1 against the greenback. The Australian dollar changed hands at $0.7736, after climbing from levels below $0.768 late last week.

Oil prices were lower in the morning of Asia trading hours, with international benchmark Brent crude futures down 0.29% to $71.68 per barrel. U.S. crude futures shed 0.24% to $69.45 per barrel.

Here’s a look at what’s on tap:

  • China: Trade data for May at 11:00 a.m. HK/SIN