Asian stocks were mixed in early trade amid heightened geopolitical concerns after North Korea test fired a ballistic missile, turning investors risk averse.
The U.S. confirmed that rocket launched on July 4 was an intercontinental ballistic missile, which may give North Korea the capability of striking some part of the country.
Yen climbed while Japanese stocks slipped along with most of the Asian equities while U.S. markets set to reopen after July 4 holiday.
Crude oil swung between gains and losses, but held on to the $47 barrel mark, following a 10 percent rally after falling into bear market last month. Gold, meanwhile, climbed for a second day to $1,227.28 an ounce.
Some of the key data releases expected today are: China and Japan PMI (Purchase Manager's Index) data, Philippines inflation data for June and interest rate decision from Bank of Thailand.
Crude Slows Down
Brent oil slowed its longest run of gains since 2012 as Russia was said to oppose any proposal to deepen OPEC-led production cuts.
U.S. crude stockpiles may have resumed decline last week, according to a Bloomberg data. Even though prices surged in the last couple of days, the commodity remains in a bear market on concerns of rising global glut will offset OPEC-led rebalancing efforts.
Libya and Nigeria, exempt from OPEC-led curbs, accounted for half of the group's production boost last month.
Positive Start?
The Singapore traded SGX Nifty, an early indicator of Nifty 50's performance in India, advanced 1.5 percent to 9,626.50.
Textile maker Raymond will be in focus today. The company has a target of 7-9 percent revenue growth in the financial year 2017-18 with margin expansion of 100-150 basis points. Also in focus, Aditya Birla Nuvo which will no longer be available for trading as deal with Grasim kicks off.
Also Read: All You Need To Know Going Into Trade Today
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