Japanese markets set to open lower as trade tensions dent sentiment; China rate decision on tap

Japanese stocks were set to open lower Monday as investors awaited China’s rate decision at a time when the yuan has come under pressure due to Beijing-Washington trade tensions.

Nikkei 225 futures contract in Chicago stood at 34,595 while its counterpart in Osaka last traded at 34,650, against the index’s Friday close of 34,730.28.

Investors will be keeping a watch on the People’s Bank of China’s loan prime rate verdict, expected later in the day.

Australian and Hong Kong markets were closed for the Easter holiday.

— CNBC’s Sean Conlon contributed to this report.