Stock Market Today: Global market trends indicate that Tuesday’s opening of domestic benchmark equity indices may be flat. In the early morning trade, the Nifty futures on the Singapore Exchange were trading 11 points, or 0.06%, higher at 17,876.0. The Shanghai Composite index in China increased by 0.26%, the KOSPI in South Korea increased by 0.17%, the Nikkei 225 in Japan decreased by 0.05%, the Hang Seng in Hong Kong decreased by 0.59%. On Monday, no trading took place on US markets.
Brent oil lower
After optimism over demand amid tightening supplies drove prices higher on Monday, the benchmark Brent crude price opened slightly lower on Tuesday as the U.S. dollar strengthened and traders awaited clues from the U.S. Federal Reserve meeting minutes.
Tuesday’s price for Brent crude was $83.57 per barrel, down 59 cents or 0.5%. As of 0146 GMT, March WTI (West Texas Intermediate) for the United States, which expires on Tuesday, was up 78 cents or 1.02% at $77.12.
Due to a United States holiday, WTI futures did not settle on Monday. The most active contract at the moment is WTI April, which was up 52 cents or 0.68% to $77.07.
Stock Market Today: Dollar updates
On Tuesday, the dollar was trading below recent peaks as a three-week rally fizzled and traders awaited economic data to determine whether further dollar gains were justified.
The common currency found solid support above $1.06 as the dollar held steady at 132.24 yen and $1.0687 per euro. The US dollar index has increased for three consecutive weeks, gaining about 1.7 percent so far in February, but it has stabilised at 103.86, down from a six-week high of 104.67 reached on Friday.
Japan’s factory activity shrinks at fastest pace in 2-1/2 years
According to a business survey released on Tuesday, Japan’s manufacturing activity shrank at its fastest rate in 30 months in February. This is concerning news for the third-largest economy in the world, which is dealing with weakening demand and is fighting to contain cost pressures.
The au Jibun Bank flash Japan manufacturing purchasing managers’ index (PMI) decreased from a final 48.9 in January to a seasonally adjusted 47.4 in February.
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