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Asia-Pacific stocks set to rise; Ant Group denies report that it's exploring ways for Ma to exit

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Ant Group said in a tweet that a recent report by Reuters that the firm was looking at ways for Jack Ma to exit were 'untrue and baseless.'

Japan's trade data for March is expected to be out at around 7:50 a.m. HK/SIN on Monday.

Investors will watch Hong Kong-listed shares of Alibaba on Monday. This comes after Ant Group said in a tweet that a recent report by Reuters that the firm was looking at ways for Jack Ma to exit were "untrue and baseless." Reuters reported over the weekend that financial technology giant Ant is "exploring options" for Ma to divest his stake in the firm and "give up control," citing "a source familiar with regulators' thinking and two people with close ties to the company.

Futures pointed to a higher open for Japanese stocks. The Nikkei futures contract in Chicago was at 29,790 while its counterpart in Osaka was at 29,800. That compared against thelast close at 29,683.37. Japan's trade data for March is expected to be out at around 7:50 a.m. HK/SIN on Monday. Meanwhile, shares in Australia also looked poised for a positive start. The SPI futures contract was at 7,071, against the

 

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