Asian markets are poised for a mixed open on Tuesday as the rally in global equities shows signs of wavering and investors fret over China’s tepid post-pandemic recovery.
Japan opened marginally higher on Tuesday. Europe’s main equity gauge witnessed a 1% slump on Monday. Contracts for U.S. benchmarks fell about 0.2% as they reopened after Wall Street was closed for a holiday Monday. Markets in Hong Kong declined, while shares in Australia rose.
The yen strengthened slightly versus the dollar after weakening to 142 on Monday as Japan’s loose monetary policy weighed on the currency. The greenback was steady against most of its other Group of 10 counterparts.
Brent crude was trading below $76 a barrel, and West Texas Intermediate slipped to the $71 mark. The yield on the 10-year U.S. bond was trading at 3.80%, whereas Bitcoin was inching closer to the $27,000 level.
At 8:05 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was down 0.35% at 18,808.5.
Back home, the S&P BSE Sensex Index was down 216 points, or 0.34%, at 63,168.30, while the NSE Nifty 50 Index was 71 points, or 0.37%, lower at 18,755.45. Overseas investors in Indian equities snapped a four-day buying streak to turn net sellers on Monday.
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