In the political sphere, investors will be keeping a close eye on tensions surrounding North Korea. On Monday, U.S. President Donald Trump and South Korea’s President Moon Jae-in jointly agreed in a call, to apply maximum pressure and sanctions on North Korea, according to Reuters.

Meanwhile, North Korea responded to the United Nations‘ latest sanctions imposed on the country, stating that it would infringe the country’s sovereignty; Reuters added, citing the Korean Central News Agency (KCNA).

Looking to commodities, oil prices ticked lower in morning trade as rising output from OPEC members weighed on sentiment.

—Reuters contributed to this report.

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