Asian markets gained in early trading Monday, as oil prices fell and the Bank of Japan met to discuss monetary policy.

Japan’s Nikkei
NIK,
+2.34%

rose 2.2%, and Hong Kong’s Hang Seng index
HSI,
+1.63%

gained 1.6%. The Shanghai Composite
SHCOMP,
+0.69%

edged up 0.6% while the smaller-cap Shenzhen Composite
399106,
+0.68%

advanced about the same. South Korea’s Kospi
180721,
+1.80%

rose 1.6%, and benchmark indexes in Taiwan
Y9999,
+2.02%

, Singapore
STI,
+1.40%

and Indonesia
JAKIDX,
-0.12%

gained as well. Australia’s S&P/ASX 200
XJO,
+1.15%

advanced 0.7%.

Meanwhile, U.S. crude futures
CLM20,
-8.56%

sank below the $16-a-barrel level, while Brent crude
BRNM20,
-1.86%

, the global benchmark, fell as well, though not as sharply

In Tokyo, the Bank of Japan was expected to expand monetary stimulus plans for the second straight month amid the coronavirus pandemic that has crippled global economies. The central bank is expected to keep interest rates unchanged, though.

U.S. stock futures
YM00,
+0.66%

ES00,
+0.60%

gained late Sunday, ahead of a busy week for quarterly earnings, including reports from some of the biggest tech companies.

Last week, the Dow Jones Industrial Average
DJIA,
+1.10%

fell 1.9%, the S&P 500
SPX,
+1.39%

declined 1.3% and the Nasdaq
COMP,
+1.64%

retreated 0.2%, marking the first losing week for the benchmarks in the past three weeks.


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