Asian Stocks Set to Fall as Global Sentiment Sours: Markets Wrap

-- Asian stocks are set to fall in early trading as concern over a political crisis in France fans anxiety in global markets, while a flurry of central bank decisions this week may signal delays to the long-awaited easing cycle.Equity futures in Australia, Japan and Hong Kong point to opening losses after the S&P 500 edged lower Friday, benchmark 10-year Treasuries rose and gold rallied. US contracts were little changed in early trading.

In the US, stocks struggled to gain traction Friday after a gauge of consumer sentiment sank to a seven-month low as high prices continued to take a toll on views of personal finances. The S&P 500 closed mildly lower, led by a drop in industrial shares. Tech outperformed, with Adobe Inc. up 15% on a strong outlook. The Stoxx Europe 600 slid 1%, while France’s CAC 40 Index extended losses to over 6% last week, the most since March 2022.

This week, traders will also be watching inflation readings in Europe and the UK to help finesse bets on the global rate outlook. Meantime, a swath of Federal Reserve officials including Dallas Fed President Lorie Logan, Chicago Fed President Austan Goolsbee and Fed Governor Adriana Kugler are due to speak.The Japanese yen was little changed at 157.

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