Asian stocks looked set to track Friday’s retreat in U.S. equities, with the safe-haven yen holding most of its biggest gain in more than a week amid a rout in the price of oil.

Shares in New Zealand declined 0.2 percent, while futures on indexes from Tokyo to Sydney signaled losses after U.S. stocks tumbled on Friday to their lowest closing level in two months. The euro was little changed while Spanish government bonds may weaken on Monday after Spain was left with no clear governing majority following the nation’s election. Crude slid to the lowest level in more than six years last week, bucking gains seen in commodities including copper, sugar and gold.

The S&P/NZX 50 Index declined 0.2 percent as of 7:21 a.m. in Tokyo on Monday. Futures on Australia’s benchmark were down 0.8 percent in most recent trading, while those on the Kospi index in Seoul weakened 0.3 percent.

Nikkei 225 Stock Average futures slid 0.6 percent to 18,830 in Osaka, with contracts denominated in yen traded in Chicago falling 2.3 percent last session. The Bank of Japan on Friday modified its stimulus program to lengthen the average maturities of government bonds it buys and unveiled new measures to purchase exchange-traded funds. Governor Haruhiko Kuroda said the changes were designed to make it easier for the BOJ to maintain its current policy and didn’t constitute additional easing.

In Hong Kong, futures on the Hang Seng and Hang Seng China Enterprises gauges lost at least 0.5 percent, while those on the FTSE China A50 Index were down 0.2 percent in recent trade.

Source: Bloomberg