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Asian Markets Called Higher On Tuesday

2/27/2012 6:04 PM ET

The Asian stock markets are expected to move modestly higher on Tuesday, after most of the regional bourses saw heavy selling in the previous session.

The markets may benefit from a pullback in the price of crude oil, as well as news that Germany's lower house of parliament voted in favor of a second Greek bailout package.

Upbeat economic data from the United States adds to the positive sentiment.

The U.S. markets ended mixed but barely changed on Monday as the Dow edged down 1.44 points or less than a tenth of a percent to finish at 12,981.51. The NASDAQ inched up 2.41 points or 0.1 percent to 2,966.16 and the S&P 500 rose 1.85 points or 0.1 percent to 1,367.59.

The major European markets moved lower on Monday but closed well off their worst levels. While the French CAC 40 Index fell by 0.7 percent, the U.K.'s FTSE 100 Index and the German DAX Index dipped by 0.3 percent and 0.2 percent, respectively.

The Asian markets were mostly lower on Monday, led by the 2.67 percent plunge in India. South Korea's KOSPI plummeted 1.42 percent, while Singapore's Straits Times dropped 1.05 percent, Thailand fell 0.97 percent, Hong Kong's Hang Seng shed 0.88 percent, Indonesia retreated 0.86 percent, Australia was down 0.79 percent, New Zealand dropped 0.49 percent and Japan's Nikkei eased 0.14 percent.

China's Shanghai Composite bucked the trend with a 0.30 percent gain, while Malaysia also inched higher by 0.02 percent. Taiwan is closed until Wednesday for Peace Memorial Day.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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