Here's how global cues are stacked up today

Equities in Europe closed lower after negative data from China, while markets in the US remained shut yesterday on account of Martin Luther King Junior day.

In Asia, attention will remain squarely on Bank of Japan's policy meeting commencing later today.

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Meanwhile in China, the seven-day repurchase rate hit its second highest level since December. People's Bank of China said it would give commercial banks emergency funding.

In opening trade, Asian markets were trading higher. Nikkei gained 1.07 percent, Straits Times was up 0.17 percent and Seoul Composite rose 0.28 percent.

In the currency space, the dollar index is little changed above 81.11, having drifted off a two-month high of 81.296 yesterday in subdued trading due in part to the US holiday. Against the yen, the greenback edged up to 104.16 from 103.865.

In commodities, crude prices continued to inch lower weighed down by data which showed China's oil consumption slowed in 2013 along with Iran starting to implement a nuclear deal with world powers.

From the precious metals space, gold traded just below a six-week high this morning amid subdued activity in the stock markets and on the data front, while platinum was near its strongest in 2-1/2 months as strikes were set to begin this week at the top producers.   

Back home in India, Nifty closed yesterday at 6303.95, while Sensex ended the day at 21205.