Australia and Japan set for positive open while most Asian markets close for Labor Day

Australian and Japanese markets are set for a positive open even as most Asian markets are closed for the Labor Day holiday Monday.

In Australia, futures for the S&P/ASX 200 stood at 7,372, compared with the index’s last close of 7,309.2. Private surveys from Juno Bank revealed that Australia’s factory activity in April contracted at its fastest pace in 35 months, with the purchasing managers index standing at 48.

In Japan, the Nikkei futures contract in Chicago was at 29,100, while its counterpart in Osaka was at 29,070 against the Nikkei 225’s last close at 28,856.44.

Au Jibun bank will release Japan’s factory activity data for April later in the day.

On Friday, the three major indexes in the U.S. all closed higher, with the Dow Jones Industrial Average gaining 0.8% to notch its best month since January. The S&P 500 added 0.83%, while the Nasdaq Composite advanced 0.69%.

— CNBC’s Alex Harring and Sarah Min contributed to this report