SINGAPORE, Aug 22 — The yen held onto gains as Asian stock-index futures indicated a firmer open after a lackluster US session and as Bridgewater’s Ray Dalio said he was reducing risk.

Japanese stock-index futures rose with contracts in Australia, South Korea and Hong Kong after the S&P 500 Index halted a two-day slide.

Trading was about 15 per cent below the 30-day average on a day when the first total solar eclipse to sweep the US from coast to coast in 99 years was the highlight. Treasuries climbed, gold was closer to US$1,300 (RM5,573.1) per ounce and oil maintained losses.

Dalio, the billionaire founder of the world’s largest hedge fund, said he’s "tactically reducing our risk” because he’s "concerned about growing internal and external conflict leading to impaired government efficiency,” according to a LinkedIn post Monday.

With little in the way of tier-one economic data out this week, markets are focusing on the annual conference of global central bankers hosted by the Kansas City Fed at Jackson Hole, at a time when advanced economies grapple with ending years of unprecedented monetary easing, even as stubbornly tepid inflation clouds the outlook.

Federal Reserve chair Janet Yellen and European Central Bank president Mario Draghi will be among the officials addressing the summit that kicks off on Thursday.

"The key event this week is the Jackson Hole central bank policy forum which begins on Thursday,” Citigroup Inc. strategists including Peter Goves wrote in a note to clients.

"The market spotlight will likely focus on Yellen, given the generally low US inflation environment and the likelihood of Fed balance sheet reduction occurring relatively soon.”

Terminal subscribers can read more on our Markets Live blog.

Among the key events looming this week:

Economic releases in Asia include Hong Kong July CPI and Taiwan unemployment.  Indonesia’s central bank sets monetary policy. A raft of survey data will probably show euro-area growth slowed in the third quarter. Combined sales of new (data Wednesday) and previously owned (Thursday) US homes probably edged up in July from the prior month, indicating a still robust real estate market held in check by rising property prices, economists forecast.

Here are the main moves in markets:

Stocks

Futures on the Nikkei 225 Stock Average rose 0.1 per cent, while contracts on the Kospi index gained 0.2 per cent and those on Australia’s main gauge were up 0.1 per cent. Contracts on Hong Kong’s Hang Seng Index advanced 0.3 per cent. Futures on the S&P 500 were up less than 0.1 per cent as of 7:12am in Tokyo. The underlying gauge rose 0.1 per cent yesterday. 

The MSCI Emerging Market Index added 0.3 per cent.

Currencies

The yen was little changed at 108.97 per dollar in early trading after gaining 0.2 per cent yesterday. The Bloomberg Dollar Spot Index fell 0.3 per cent to the lowest since Aug. 3. The euro was trading at US$1.1815 after climbing 0.4 per cent. The Australian dollar was little changed at 79.39 US cents.

Bonds

The yield on 10-year Treasuries fell one basis point to 2.18 per cent, the lowest in almost two months. Germany’s 10-year yield fell one basis point to 0.40 per cent. Futures on Australia’s 10-year note advanced.

Commodities

West Texas Intermediate gained 0.1 per cent to US$47.44 after tumbling 2.4 per cent yesterday. Gold was down less than 0.1 per cent at US$1,290.94 an ounce following a 0.6 per cent gain. — Bloomberg