Stocks in Asia declined in Monday morning trade as fears resurface over the coronavirus pandemic.
In Japan, Nikkei 225 slipped 0.64% in early trade while the Topix index shed 0.33%. Over in South Korea, the Kospi dipped 0.68%.
Meanwhile, the S&P/ASX 200 in Australia slipped 0.33%.
Overall, the MSCI Asia ex-Japan index traded 0.25% lower.
Developments surrounding the coronavirus pandemic likely continued to be watched by investors on Monday.
A district in the Chinese capital of Beijing was in a "wartime emergency" after a cluster of infections was found centered around a wholesale market, according to Reuters. Stateside, Texas and North Carolina also reported a record number of virus-related hospitalizations on Saturday.
"News over the weekend have done little to ease concerns over the risk of a new round containment measures," Rodrigo Catril, senior foreign exchange strategist at National Australia Bank, wrote in a note.
"As economies reopen, an increase in infection rates is to be expected, the question is whether detecting measures will be efficient enough to allow for localised containment measures without having to shut the whole economy again," Catril said.
On the economic data front, a slew of Chinese economic data for May is set to be released around 10:00 a.m. HK/SIN, with industrial production as well as fixed asset investment for that month expected.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 97.17 after rising from levels below 96.5 last week.
The Japanese yen traded at 107.30 per dollar following a strengthening from levels above 108 last week. The Australian dollar changed hands at $0.6828 after last week's slip from levels above $0.693.
Oil prices were lower in the morning of Asian trading hours, with international benchmark Brent crude futures down 1.83% to $38.02 per barrel. U.S. crude futures also dropped 2.4% to $35.39 per barrel.
What's on tap for Monday:
- China: Industrial production, fixed asset investment, retail sales for May at 10:00 a.m. HK/SIN
— CNBC's Emma Newburger contributed to this report.
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June 15, 2020 at 07:13AM
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Asia stocks slip as virus fears resurface; China's industrial production data ahead - CNBC
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