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Asia-Pacific indices are recording a mixed session at the start of the week. Japan's Nikkei loses as much as 2.20%, Australia's S&P/ASX 200 is trading 1.10% lower and indices from China gain between 1.40-1.60%.
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European index futures point to a lower opening of the cash session on the Old Continent.
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In the forex market, we do not see much change in the first part of the day, with most forex rates fluctuating between +-0.20%. The weakest currency in the first part of the day is the Australian dollar AUD. In contrast, the New Zealand dollar is the strongest one.
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Japan's economy grew at an annualized rate of 0.4% in the October-December quarter from the previous quarter, better than the preliminary estimate of a 0.4% decline, government data showed on Monday.
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On a quarter-on-quarter basis, GDP grew by 0.1%, compared to an initial decline of 0.1% and the median forecast of 0.3% growth.
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The US armed forces said that at least 28 unmanned aerial vehicles (UAVs) were shot down over the Red Sea early Saturday.
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Along with coalition forces from France and the UK, the US said it had taken action after determining that "large-scale" Houthi attacks "posed a direct threat to commercial vessels".
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Ni Hong, Minister of Housing and Urban and Rural Development, said at a press conference on Saturday that companies that are insolvent or unable to operate must cease operations or be restructured.
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Ni Hong says authorities have a difficult task this year to stabilise the stricken property industry.
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The head of the Japan Business Federation, Masakazu Tokura, believes that more momentum is being felt for wage increases at this year's talks compared to last year. Therefore, there is a high probability that the BOJ will normalise monetary policy in the near future. However, it is uncertain whether this will happen as early as March.
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The cryptocurrency market is seeing a pullback. Bitcoin is losing 0.65% to US$68500, Ethereum 1.40% to US$3800 and the altcoin market is losing even more at 1.20%.
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Cryptocurrencies gained over the weekend, with Bitcoin approaching the USD 70000 level again, but there was a slight correction in the first part of the day of the new week.
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