Benchmark indices may open flat tracking mixed signals from Asia

Moneycontrol BureauIndian benchmark indices are likely to open flat tracking mixed signals from Asian share and a stronger US market. The SGX Nifty at the time of writing was up 6 points at 8187.Asian shares were mixed on Friday as currency swings captured attention with the Chinese yuan at its lowest point against the dollar since May 2008 and Japan stocks up slightly on recent yen weakness.The People Bank of China set the daily yuan mid-point fix at 6.9508 versus its last close at 6.9478. The yuan fetched 6.9468 per dollar as of 9:43 am HK/SIN. Mainland Chinese shares were mixed. The Shanghai composite was down 0.08 percent and the Shenzhen composite climbed up 0.22 percent.Japan's benchmark Nikkei 225 gained 0.6 percent, boosted by a weaker yen. A weaker yen usually supports exporters as it boosts repatriated earnings and makes pricing more competitive abroad.US stocks rose on Thursday as a post-election rally resumed, while investors digested a slew of economic data and the Federal Reserve's decision to raise interest rates.The Dow Jones industrial average closed about 60 points higher, having risen more than 150 points earlier, with Goldman Sachs contributing the most gains.The pan-European Euro Stoxx 600 ended 0.86 percent higher with major bourses in positive territory. The FTSE 100 closed up 0.72 percent after the Bank of England held interest rates, as widely expected, and forecast that the UK should overshoot its 2 percent inflation target as early as late 2017.Spot gold was steady at USD 1,128.70 an ounce by 0101 GMT, after touching its weakest level since February 2 at USD 1,122.35 in the previous session. Gold fell nearly 1.4 percent on Thursday, its biggest percentage fall in three weeks.