Japanese stocks fell, with the Topix index headed for its first loss in four days, as energy explorers declined amid lower crude oil prices.
The Topix dropped 0.1 percent to 1,658.40 as of 9:03 a.m. in Tokyo, after Friday capping a 1.8 percent increase for July. The Nikkei 225 Stock Average slipped 0.3 percent to 20,514.27. More than 70 companies in the Topix will report quarterly results Monday.
Of the 903 firms that have reported results this season and for which estimates are available, 62 percent exceeded profit expectations, an improvement from the 48 percent that beat forecasts in the previous quarter, according to data compiled by Bloomberg.
Energy shares led declines on the Topix as crude futures in New York slid as much as 1.6 percent after Iran claimed it will be able to bolster production a week after sanctions are lifted.
E-mini futures on the Standard & Poor’s 500 Index rose less than 0.1 percent after the underlying measure slipped 0.2 percent on Friday in New York.
An official gauge of Chinese manufacturing at the weekend slid to a five-month low. Chinese stocks sank the most since 2009 in July as regulators struggled to stave off an equity rout amid weakening growth in the world’s second-largest economy. Greek markets are set to resume following a five-week suspension.
Source : Bloomberg