TOKYO: Asian shares fell in early trading on Tuesday, while the dollar held near highs scaled in holiday-thinned trading in the previous session. European shares marked a weak finish in thin trade on Monday, with many markets in the region closed for holidays. US markets were also closed for Memorial Day. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.2 per cent in early trade, after eking out a late gain in the previous session. Japan's Nikkei stock index edged up 0.1 per cent, after logging seven straight gains and closing at a fresh 15-year high on Monday.
NEW DELHI: The 50-share Nifty index is expected to open lower on Tuesday following muted trend seen in other Asian markets. Tracking the momentum, the index may retest its crucial psychological level of 8350 in trade today. At 07:30 a.m., Nifty India stock futures in Singapore were trading 11 points higher at 8351 indicating flat-to-negative opening on the domestic market. The 30-stock Sensex ended the day in red at 27,643.88, down 313.62 points. The broader 50-share Nifty closed the session at 8,370.25, down 88.70 points.
China’s biggest devaluation of the yuan in two decades sparked a chain reaction across global markets, weighing on competitors and raising concern that growth in the world’s second-biggest economy is headed for a deeper slowdown.
The decision by the People’s Bank of China to cut its reference rate by 1.9 per cent dragged down Asian currencies and pulled stocks of exporters in Europe lower. It dented emerging-market equities and industrial metals while boosting demand for the havens of bonds and gold.
SYDNEY: Asian share markets paused near seven-year peaks on Wednesday while investors exited crowded positions in the US dollar as the Federal Reserve wraps up a two-day policy meeting. The broad retreat in the US currency came as a string of soft data seemed to push back the day when the Fed might start lifting rates, and defied a jump in Treasury yields. Trading was thinner on Wednesday with Japanese markets on holiday and little in the way of major data due in Asian time. That helped the dollar index stabilise at 96.111 after touching the lowest since March 5.