SINGAPORE – Stocks in the Asia-Pacific region struggled Monday to determine direction, as investors continue to monitor the US Treasury yield curve.
MSCI’s broadest index of Asia Pacific shares outside Japan traded 0.08% lower.
Markets in mainland China are closed on Mondays and Tuesdays this week for holidays.
A closely watched portion of US Treasury yields upside down on Friday Short-term interest rates jumped after the US jobs data, raising concerns about a possible recession on the horizon.
The US dollar indexwhich measures the US currency against a basket of other currencies, was at 98.627, compared to levels below 98 seen in late March.
The Japanese Yen It traded at 122.52 per dollar, stronger than the levels above 124 seen against the dollar last week. The Australian dollar It was at $0.7485, after trading in a range between $0.747 and $0.753 for most of the past week.
Oil prices were lower in the morning of Asian trading hours, with the international standard Brent crude futures contracts It fell 0.88% to $103.47 a barrel. US crude futures contracts It fell 0.93% to $98.35 a barrel.
CNBC’s Patti Doom contributed to this report.