Asia-Pacific stocks set to open mixed as global concerns persist

SINGAPORE — Shares in the Asia-Pacific region were poised to open mixed on Monday as global concerns continue to plague markets.

In Japan markets, the Nikkei futures contract in Chicago was at 26,920, while its counterpart in Osaka was at 26,750. The Nikkei 225 closed at 26,739.03 on Friday.

Australia’s SPI futures were at 7,129, lower compared to the S&P/ASX 200‘s last close at 7,145.6.

Chinese electric vehicle maker Xpeng is set to report its first-quarter earnings on Monday.

Stocks stateside have been taking a battering as markets grow fearful over whether there will be a recession.

In the U.S., the S&P 500 briefly fell into bear market territory during Friday’s session, but recovered slightly to close almost flat. The Dow Jones Industrial Average rose 8.77 points to 31,261.90 after reversing losses of more than 600 points.

The Nasdaq Composite is already deep in bear market territory, 30% off its highs, and fell 0.3% on Friday. All three indexes have posted at least a seven-week losing streak.

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