Japan markets set to dip; investors monitor bitcoin volatility

SINGAPORE — Japan’s markets were set to dip on Monday, while investors will keep an eye on bitcoin prices after they fell sharply over the weekend.

Japan’s Nikkei futures contract in Chicago was at 27,880 while its counterpart in Osaka was at 27,790. That compared against the Nikkei 225’s last close at 28,029.57.

Australia’s S&P/ASX 200 was subdued in early trading, edging down 0.1%.

Over in Hong Kong markets, four new stocks — including Chinese technology giants JD and Netease — will be added to the benchmark Hang Seng index. The latest update increases the number of stocks in the main index to 64, from the current 60 stocks.

At the same time, troubled Chinese property developer Evergrande will be removed from the China Enterprises index.

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Evergrande, embroiled in debt problems, warned Friday in a filing with the Hong Kong exchange that it has received a demand to repay about $260 million.

“In the event that the Group is unable to meet its guarantee obligations or certain other financial obligations, it may lead to creditors demanding acceleration of repayment,” it said.

Bitcoin volatility

Investors will continue to monitor crypto after bitcoin prices were volatile throughout the weekend, dropping sharply Saturday afternoon during Asia hours. Bitcoin initially lost about 17%, or $10,000 — falling to a low near $43,000. It has since pared some losses to around $49,309, according to Coin Metrics. Still, the cryptocurrency has lost over 13% since Friday.

In currencies, the U.S. dollar index, which tracks the greenback against a basket of its peers, was at 96,202, continuing its rise from levels around 96.1 in the previous session.

The Japanese yen traded at 112.98 per dollar, little changed compared to earlier. The Australian dollar was at $0.7014, edging higher from levels around $0.69 earlier.

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