Daijiworld Media Network – Tokyo

Tokyo, Aug 11: Asian shares posted modest gains at the open on Monday as investors stayed cautious ahead of key US economic data releases and the looming deadline for a potential extension of US tariffs on Chinese exports.

Australian stocks rose while South Korea’s market fluctuated. S&P 500 futures edged up 0.1% in early Tokyo trading, while Euro Stoxx 50 futures advanced 0.4%. Oil prices slipped 0.7%, marking the seventh decline in eight days, with Brent trading near $66 a barrel and West Texas Intermediate above $63 ahead of US-Russia talks. Spot gold eased 0.3% to $3,387.91 an ounce.

Asian lithium stocks gained after Contemporary Amperex Technology Co Ltd suspended production at a major mine in China’s Jiangxi province for at least three months, easing oversupply concerns. Traders are closely watching the US inflation report, expected to guide the Federal Reserve’s rate outlook amid stagflation fears.

Technology shares may draw attention after Nvidia Corp. and Advanced Micro Devices Inc. agreed to pay 15% of their China chip sales revenue to the US government in exchange for export licenses.

Chinese retail sales and industrial production data are due later this week, while markets await confirmation on whether the August 12 tariff talks will be extended by 90 days. Meanwhile, Australia’s central bank is expected to ease policy on Tuesday, though Governor Michele Bullock is likely to maintain a cautious stance.

In currencies, the euro traded at $1.1646, the yen at 147.64 per dollar, and the offshore yuan at 7.1892 per dollar. Bitcoin rose 0.7% to $119,238.64, while Ether climbed 0.7% to $4,246.25.