Japanese stocks fell, with the Topix index retreating from a six-week high, as trading resumed after a holiday. Energy-related shares led losses after crude oil plunged.
The Topix dropped 0.5 percent to 1,507.81 as of 9:02 a.m. in Tokyo, with three shares falling for every two that rose. The Nikkei 225 Stock Average declined 0.6 percent to 18,335.29. Both gauges last week posted their biggest weekly gain since July. The yen traded at 120.04 per dollar after strengthening 0.2 percent on Monday.
E-mini futures on the Standard & Poor’s 500 Index were little changed after the underlying gauge added 0.1 percent on Monday, rising for a fourth day amid reduced volume.
China is due to report trade data Tuesday that is forecast to show ongoing contraction in exports and imports, potentially reigniting the concerns that fueled last quarter’s volatility or stoking bets on further easing from the country’s central bank.