Global markets gain on Japan data, as US-China meeting looms

Global markets were mostly higher Monday, cheered by a positive report on the Japanese economy, as players awaited talks between U.S. President Donald Trump and his Chinese counterpart later in the week.

KEEPING SCORE

France's CAC 40 slipped 0.2 percent to 5,114.83 in early trading, while Germany's DAX gained 0.2 percent to 12,339.78. Britain's FTSE 100 edged 0.1 percent lower to 7,316.39. U.S. shares were set to drift higher with Dow futures up 0.1 percent at 20,624. S&P 500 futures were also up nearly 0.1 percent at 2,360.80.

ASIA'S DAY

Japan's benchmark Nikkei 225 added 0.4 percent to finish at 18,983.23, while Australia's S&P/ASX 200 inched up 0.1 percent to 5,872.70. India's Sensex jumped 0.9 percent to 29,882.27 and South Korea's Kospi rose 0.3 percent to 2,167.51. Hong Kong's Hang Seng gained 0.5 percent to 24,236.10. Shanghai's bourse was closed for a holiday.

U.S.-CHINA

Markets are closely watching for the outcome of the summit with Chinese President Xi Jinping at Trump's Mar-a-Lago estate in south Florida later this week. The two are expected to discuss various contentious issues including North Korea, trade and territorial disputes in the South China Sea during their talks on Thursday and Friday.

ANALYST'S TAKE

"The start of the week marks the first trading day of the month and quarter, also kicking start an action-packed week with various items to keep watch on. U.S. nonfarm payrolls, the meeting between the leaders of the U.S. and China, and the U.S. central bank March meeting minutes are some of the few items lined up ahead," said Jingyi Pan, market strategist at IG.

UPBEAT JAPAN

Japanese manufacturers are feeling slightly more upbeat than they were late last year, according to a quarterly survey by the Bank of Japan. The survey's findings fell slightly below economists' forecasts, but were seen as a sign exports are underpinning growth in the world's No. 3 economy.

ENERGY

Benchmark U.S. crude fell 7 cents to $50.53 a barrel in electronic trading on the New York Mercantile Exchange. It added 25 cents to close at $50.60 per barrel on Friday. Brent crude, used to price international oils, slipped 12 cents to $53.41 a barrel.

CURRENCIES

In currency trading, the euro weakened to $1.0673 from $1.0737 and the dollar rose to 111.35 yen from 111.30 yen late Friday in Asia.