China's Shanghai Composite index brushed off the weak data set to advance 1.4 percent at the start of trade, likely buoyed by prospects of further monetary easing.
Despite expectations that Bernanke will continue to make the case for stimulating the economy through its bond-buying programme at his testimony, most respondents in a CNBC survey expect the US dollar to remain strong and press oil prices towards the lower end of their trading range.
Mecklai Graph of the Day – Indian Markets continue to underperform
It has been a cruel week for the market and most big names have send a scare in the market today. However, in an interview to CNBC-TV18, SP Tulsian of sptulsian.com says biggies L&T and Reliance on a fundamental call will soon see a bounce back.
There is a sense of renewed fear about the health of global markets. In an interview to CNBC-TV18, Puru Saxena, CEO, of Puru Saxena Wealth Management says The western stock markets are not performing because their economies are weak and Asian stock markets, especially India is not performing because the monetary policy is hostile.