Futures tipped a slightly lower open for markets in Asia on Tuesday after Wall Street posted losses amid weakness in the technology sector. Meanwhile, investors are set to focus on the Bank of Japan’s decision at the end of its policy meeting later in the day.

Nikkei futures traded in Chicago were lower by 0.2 percent compared to the index’s previous close and Australian SPI futures were little changed, softer by around 0.03 percent at the end of Monday.

U.S. stocks declined on the first trading day of the week, with sharp falls in major tech names contributing to the Nasdaq Composite’s 1.39 percent drop for the day. The tech-heavy index closed at 7,630 on Monday and has recorded a three-day decline of 3.86 percent, its largest since March.

So-called FANG stocks, referring to a group of large-cap technology sector shares, turned in a poor showing on Monday: Netflix led the declines and dropped 5.7 percent, Amazon and Google parent Alphabet fell around 1.8 percent and 2 percent, respectively, and Facebook lost 2.1 percent in the wake of its quarterly results and guidance disappointing last week.

Other U.S. indexes saw slimmer losses. The Dow Jones Industrial Average declined 0.57 percent, or 144.23 points, to close at 25,306.83 and the S&P 500 eased 0.58 percent to 2,8202.6.

Central banks were top of mind for investors, with the Bank of Japan concluding its two-day policy meeting later in the day. Reports had emerged earlier that the central bank could modify its policy in order to make its program more sustainable.

The Federal Reserve’s Federal Open Market Committee, meanwhile, was due to begin its own monetary policy meeting on Tuesday U.S. hours, with a decision due on Wednesday. The Fed is expected to keep rates steady at the end of its meeting.

The dollar broadly softened overnight, with the dollar index last standing at 94.324. Against the yen, however, the greenback was mostly steady at 111.01 at 7:00 a.m. HK/SIN.

On the earnings front, corporates reporting results on Tuesday include Samsung Electronics, Standard Chartered and Nintendo.

The economic calendar for Tuesday is relatively top-heavy (all times in HK/SIN):

  • 7:30 a.m.: Japan unemployment rate
  • 7:50 a.m.: Japan industrial production
  • 9:00 a.m.: China official manufacturing and non-manufacturing PMI
  • 9:00 a.m.: Australia new home sales
  • The Bank of Japan’s interest rate decision is also due during the day

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