South Korea has given a cagey response to North Korea’s offer of talks, saying that any summit would need the “right conditions”, as Seoul seeks to ease US concerns about the deepening detente on the peninsula.

The comments from Lee Nak-yon, South Korea’s prime minister, on Sunday come a day after Pyongyang opened the door to an inter-Korean summit with South Korean President Moon Jae-in at the “earliest date”.

While a meeting with North Korean leader Kim Jong Un has long been one of Mr Moon’s top ambitions, he reacted cautiously, saying: “The early resumption of dialogue between the US and North Korea is absolutely necessary for the development of inter-Korean relations.”

In Asia Pacific equities, futures tip Sydney’s S&P/ASX 200 index to drop 0.1 per cent at the open, while Hong Kong’s Hang Seng is expected to drop 1 per cent when trading begins. Traders in Tokyo are on holiday for National Foundation Day.

Corporate earnings reports out today include Bank Danamon, Ansell and Kangwon Land.

The economic calendar for Monday doesn’t have all that much on its plate, either (all times Hong Kong):

  • 13.00: Singapore retail sales
  • 20.00: India consumer price index, industrial production

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