Asian stocks posted cautious gains on the last trading day of the month.
South Korea’s benchmark Kospi index gained 0.58 percent, with gains seen in banks, retailers and steelmakers in the morning. Technology names were mixed in early trade.
Down Under, the S&P/ASX 200 edged higher by 0.19 percent as the heavily weighted financials subindex rose, canceling out declines in the materials and health care sectors. Gold producers also traded higher.
Meanwhile, markets in Japan and mainland China were closed on Monday.
The subdued open came on the back of U.S. stocks finishing the Friday session little changed despite strong earnings as technology shares pulled back.
First-quarter earnings stateside have been robust: Almost 80 percent of the 276 S&P 500 companies that had reported as of Friday beat expectations, according to Thomson Reuters I/B/E/S. Earnings from the first quarter are estimated to increase 24.6 percent compared to one year ago.
U.S. stock index futures made tentative gains during early Asian trade, with Dow Jones industrial average futures last trading higher by 29 points.
Markets in Asia had closed higher in the prior session as investors digested a historic inter-Korea summit, which saw leaders of North and South Korea pledge to achieve peace.
In corporate news, Australia’s AMP on Monday said its chairwoman, Catherine Brenner, had resigned from the position, days after the departure of Craig Meller, its chief executive. The announcement came amid an inquiry into the country’s financial sector. AMP shares were up 1 percent.
The dollar index, which tracks the greenback against a basket of currencies, traded at 91.582. Against the yen, the dollar was steady at 109.08.
Oil prices were lower after declining slightly on Friday as investors waited for signs on whether the U.S. would reimpose sanctions on Iran. Brent crude futures shed 0.39 percent to trade at $74.35 per barrel and U.S. West Texas Intermediate eased 0.13 percent to $68.01.
