Asia markets opened on a cautious open, with post-market forecast from Microsoft Corp. damping sentiment further and pushing down US equity futures. Hong Kong and mainland China markets remain closed for the Lunar New Year holiday.
The S&P 500 closed 0.1% lower to snap a two-day advance. The Nasdaq 100 shed 0.2%. In early Asian trading, Nasdaq 100 futures slid around 0.6% after Microsoft said revenue growth in its Azure cloud-computing business would decelerate, tarnishing what had been an encouraging profit report.
At 6:15 a.m., the Singapore-traded SGX Nifty, an early indicator of India’s benchmark Nifty 50, was down 0.02% to 18,130.
Crude price fell 2% and Bitcoin fell nearly 1% around the $22,000-level.
Domestic benchmark indices ended flat after a volatile session even as auto, technology and banking stocks gained.
Rupee again closed lower against the U.S. dollar in the face of continued FII outflows.
Overseas investors in Indian equities remained net sellers for the third straight day on Tuesday. Foreign portfolio investors offloaded equities worth Rs 760.51 crore, while the domestic institutional investors mopped up stocks worth Rs 1,144.75 for the third day, according to NSE data.
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