Overnight

The Nikkei 225 took an apparent breather early welling off after it had rallied for 7 days as the yen strengthened against the dollar,falling 0.8% to 18,243.33 and going up 12% since the Trump surprise victory.

The upswing was led by a sell-off in U.S.Treasury bonds sending yields much higher as investors look for more inflation owing to Trumps plan to ramp up fiscal spending. The U.S.dollar dropped .2% against the yen after hitting an eight month high of 113.90 earlier this month. Monday the dollar traded at 111.89 yen pushing up exporter stocks in the process.

Crude oil also has been kin the news a lot lately as investors continue to watch to see if OPEC will successfully pull off an output cut deal. Reuters reported: Energy shares will also likely be in focus after Reuters reported that Saudi Arabia said it would not attend talks on Monday with non-OPEC members to discuss production cuts, which prompted a fall in crude futures on Friday of more than 3 percent on Friday in the U.S. On Monday in Asian trade, U.S. crude futures were down 0.89 percent at $45.65 a barrel, while Brent futures dropped 0.91 percent at $46.81.

Symbol	Name	Price		Change	%Change
NIKKEI	NIKKEI	18234.90		-146.32	-0.80%
HSI	HSI	22861.17		137.72	0.61%
ASX 200	S&P/ASX 200	5486.00		-21.78	-0.40%
SHANGHAI	Shanghai	3269.56		7.62	0.23%
KOSPI	KOSPI Index	1980.12		5.66	0.29%
CNBC 100	CNBC 100 ASIA IDX	6836.49		29.32	0.43%

 

One of the big stories of the coming week will be Italy's referendum where  Prime Minister Matteo Renzi has stake his political future on making overhauls that polls show so far will be rejected forcing  Renzi ol keep his boast that if they fail he will resign. this could have far reaching implications not just for the EU because on Wednesday the European Union is set issue its report on the eurozone's  November inflation number, expected to move up to 0.6%, a long way still from the ECB's 2% target.

Other news on the week will be the U.S.Commerce Department revised GDP third quarter report. Some are expected to be revised upwards to 3% from the initial 2.9%, another reason for  the Fed to hike rates early next month. The cooking is in the books.Not to be left out, Japan will release its labor and household spending data for October. Unemployment is expected to remain flat while household spending is expected stay in the doldrums.

Gold was last trading at 1193.20 and ounce, up 0.8%.