Shares to drift ahead of eurozone fin min meeting
Asian stocks are set for a soft start on Tuesday, as fears grew a meeting of European finance ministers would not bring a swift end to the region's debt crisis.
January 18, 2011 / 09:26 IST
Asian stocks are set for a soft start on Tuesday, as fears grew a meeting of European finance ministers would not bring a swift end to the region's debt crisis.
Asian investors will also be looking to the start of the region's earnings season, with a host of Indian corporations reporting results.Volumes may be thinned after Wall Street was closed on Monday for the Martin Luther King holiday.Sentiment may be affected after US futures for the S&P 500 and Nasdaq were knocked sharply lower by the news Apple Inc chief executive Steve Jobs would take medical leave for the third time since 2004.British shares slipped 0.3% while European shares inched 0.1% higher, as weaker banks were partially offset by merger and acquisition activity.The euro fell as investors feared the finance minister's meeting would not increase the size of the euro zone's bailout fund, although the US holiday kept volumes in currency markets light.Japanese markets are set to open flat, hampered by a stronger yen , with Nikkei futures in Osaka last trading at 10,500, unchanged from the index close on Monday.Australian stocks are likely to ease, with share price index futures up 3 points to 4,748, a 15.1 point discount to the close of the underlying S&P/ASX 200 index. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
