Asia-Pacific markets set to open mostly higher as investors look toward China trade data

Asia-Pacific markets were set to open mostly higher on Monday as investors look toward trade data from China later in the day.

Economists surveyed by Reuters expect China’s exports in November to rise 3.8% from a year earlier, reversing the 1.1% contraction in October. Imports are expected to grow by 3% in the same period, up from 1% the month before.

Futures for Hong Kong’s Hang Seng Index pointed to a higher open, trading at 26,121, against the index’s previous close of 26,085.08.

Japan’s benchmark Nikkei 225 index was set to open higher, with its futures contract in Chicago trading at 50,535 and its counterpart in Osaka at 50,650, against the index’s last close of 50,491.87.

Australia’s ASX/S&P 200 slid 0.17%.

Investors will be keeping an eye on the upcoming Reserve Bank of Australia decision as it kicks off its two-day meeting.

According to a Reuters poll of economists, the Reserve Bank of Australia is expected to maintain its cash rate at 3.60% on Tuesday and keep it there through 2026.

Last Friday in the U.S, the three major averages closed higher as the market sorted through a fresh slate of U.S. economic releases. The S&P 500 edged higher to secure its fourth straight winning day, closing 0.19% higher at 6,870.40 and putting the index about 0.7% off its intraday record.

The Nasdaq Composite increased 0.31% to settle at 23,578.13, while the Dow Jones Industrial Average climbed 104.05 points, or 0.22%, to end the day at 47,954.99.

— CNBC’s Sean Conlon and Pia Singh contributed to this report.