us stocks are set for a lower open on monday on sunday night dow jones industrial average futures fell 150 points or 05 while sp 500 futures sank 07 and nasdaq100 futures tumbled 11 us stock markets and others worldwide were closed friday to finish a trading week shortened by good friday and other holidays the dow industrials fell 26989 points or 08 to 3445123 last week the sp 500 lost 9569 points or 21 to 439259 the technologyfocused nasdaq composite dropped 35992 points or 26 to 1335108 japanese stocks were lower dragged by weakness in food and tech stocks as uncertainty continues about higher costs for borrowing and raw materials food company ajinomoto was down 27 and chiptesting equipment maker advantest was 17 lower investors remain focused on the war in ukraine covid19 lockdowns in china and their implications for global trade ahead of the earnings season set to start later this week the nikkei stock average was down 12 at 2676801 south koreas kospi was 01 lower at 269396 in early trade as financial and tech stocks retreat the war in ukraine covid19 lockdowns in china and inflation fears continued to sap investors appetite for riskier assets such as local equities foreign and institutional investors were net sellers usdkrw is higher at 123110 versus fridays seoul close of 122960 kb financial group shed 08 while internet group kakao corp lost 07 index heavyweight samsung electronics was 03 higher chinese stocks were mixed amid concerns over the countrys ongoing lockdowns the shanghai composite index fell 10 to 317842 the shenzhen composite index was up 01 at 201519 and the chinext price index was 02 higher at 246579 auto stocks declined with byd co slipping 21 and saic motor off 05 the smallerthanexpected move from the pboc last week to cut the reserve requirement ratio for most banks by 25 basis point may put a cap on upside in the near term ig market strategist yeap jun rong said in a note markets in hong kong are closed monday for a holiday usdjpy was likely to rise this week as higher commodity prices raise the prospects of japans worsening current account ig market analyst junichi ishikawa said in a note any comments from fed officials supporting aggressive tightening in a bid to control inflation may also drive usdjpy higher ishikawa said the g20 meeting among finance ministers scheduled for wednesday would be closely watched he said usdjpy was at 12660 after rising to 12678 earlier its highest level since may 2002 compared with 12645 late friday in north america the malaysian ringgit was expected to remain weak against the us dollar this week but the downside risk was likely to be limited given positive prospects for the economy kenanga research said in a note the greenback was expected to stay strong against the ringgit amid heightened geopolitical concerns kenanga said on top of a strengthening us dollar the ringgit also faced pressure from chinas stringent zerocovid19 policy and volatile crude oil prices the research house said it expected the usdmyr pair to remain above 42300 but any weakness should be limited near 42400 usdmyr was 01 higher at 42390 gold was higher in early asian trading with concerns of elevated us inflation driving demand for the safehaven asset dailyfxcom analyst thomas westwater said in a note however while inflation is at more than 40year highs forward expectations are beginning to ease this will likely weigh on bullion prices he said central banks making moves to tighten monetary policy and raising interest rates were also bearish for gold given it is a noninterestbearing asset westwater added spot gold was 06 higher at 198549 a troy ounce oil prices were higher in early asian trade with weak crude production from opec supporting prices oanda market analyst ed moya said in a note although the ieas oilreserve release was weighing on sentiment moya said this already looked priced in so that leaves the risks heavily tilted to the upside as opec remainsunable to hit the quotas it had earlier set that could leave brent prices ranging between 100 and 120 for now with wti more like 95115 he added frontmonth brent was 13 higher at 11318bbl and wti was 09 higher at 10794bbl