Major indexes stateside finished 2017 with a losing day ahead of Asia’s first trading session of the new year, with the dollar touching its lowest levels in three months.

Equities in the region had run up significantly last year, with MSCI’s broad index of shares in Asia Pacific excluding Japan finishing the year with gains of more than 30 percent.

Over in Sydney, the S&P/ASX 200 was lower by 0.16 percent in early trade.

Geopolitical developments regarding North Korea could be in focus when South Korean markets come online.

North Korean leader Kim Jong Un declared his country a nuclear power during his New Year’s Day address on Monday, but also acknowledged that he was “open to dialogue” with the South, Reuters reported. Earlier, South Korea had seized two vessels suspected of violating sanctions by smuggling oil to North Korea.

Markets in Japan, New Zealand and Thailand are closed for holidays.

Wall Street closed slightly lower in the last trading session of 2017. The Dow Jones industrial average declined 0.48 percent, or 118.29 points, to close at 24,719.22, the S&P 500 lost 0.52 percent to finish at 2,673.61 and the Nasdaq composite ended the session flat at 6,903.39.

Still, major U.S. indexes recorded substantial gains for the year. The Dow Jones increased 25.2 percent last year and the benchmark S&P 500 rose 19.5 percent.

European markets were a similar story, with most indexes closing lower on Friday, but notching the largest annual gains since 2013 on average.

In currencies, the greenback was on the back foot against a basket of six currencies, with the dollar index trading at 92.227 at 6:39 a.m. HK/SIN. The index had notched its largest annual fall since 2003 on Friday.

Against the yen, the dollar traded at 112.60.

Meanwhile, the Australian dollar largely held onto gains made before the new year, with the currency last trading at $0.7805. The Aussie dollar has been supported by the weaker greenback as well as strong commodity prices.

On the energy front, Brent crude futures added 45 cents to settle at $66.62 per barrel and U.S. West Texas Intermediate settled at $60.42, its highest close since the middle of 2015, Reuters said.

China is likely to be in focus, with a survey focusing on manufacturing activity at smaller businesses due in the morning. The official manufacturing Purchasing Managers’ Index (PMI) released last week had come in at 51.6 for the month of December, meeting analyst expectations, Reuters said.

Here’s the economic calendar for Tuesday (all times in HK/SIN):

• 8:00 a.m.: Singapore advance fourth-quarter GDP
• 9:45 a.m.: China Caixin manufacturing PMI
• 12:00 p.m.: Indonesia inflation