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The Weekend Is Over And Markets Are Lower

Mamta BadkarMay 5, 2014, 08:10 IST

REUTERS/Toru Hanai

Asian markets are in the red as the weekend draws to a close.

HSBC China PMI, which came in at 48.1, missing expectations for 48.3. The report showed that Chinese manufacturing continues to contract.

Meanwhile, markets are also jittery after violence in Ukraine escalated over the weekend. A street fight in Odessa between pro-Russian and pro-Ukrainian forces saw 42 dead and a 125 injured.

China's Shanghai Composite is down 0.8%.
Hong Kong's Hang Seng is down 1.5%.
Japan's Nikkei is down 0.2%.
Australia's S&P/ASX 200 is down 0.2%.
South Korea's KOSPI is down 0.1%.

U.S. futures are also modestly lower. The S&P 500 and DOW are down 0.1%, meanwhile, Nasdaq is down 0.08%.

In the U.S. this week, all eyes will be on Federal Reserve chair Janet Yellen as she testifies before the Joint Economic Committee and the Senate Budget Committee on Wednesday and Thursday respectively.