The Asian stock markets are looking at a flat lead with a hint of weakness on Tuesday, thanks to the ongoing concerns over the credit problems in Europe.
Germany's central bank on Monday reiterated its opposition to the European Central Bank's plan to purchase government bonds. The decision to share solvency risks should be taken by governments, and not by central banks, Bundesbank said in its latest monthly report.
Also, Greek Prime Minister Antonis Samaras is expected to meet some of the leaders of the currency bloc this week to request an extension of its fiscal consolidation program. Samaras is expected to put forward a request for a two-year extension for the country's fiscal adjustment program.
The major U.S. averages ended Monday almost unchanged, showing moves of less than a tenth of a percent. The Dow dipped 3.56 points to finish at 13,271.64, while the NASDAQ edged down 0.38 points to end at 3,076.21 and the S&P 500 inched down 0.03 points to close at 1,418.13.
The major European markets also were down on Monday as the U.K.'s FTSE 100 Index fell 0.48 percent, while the French CAC 40 Index dipped 0.22 percent, Germany's DAX Index eased 0.10 percent and the Swiss market lost 0.35 percent.
The Asian markets were mixed but little changed on Monday as Taiwan lost 0.48 percent, while China's Shanghai Composite dipped 0.38 percent, Hong Kong's Hang Seng eased 0.06 percent, Australia was down 0.04 percent and South Korea's KOSPI fell 0.01 percent.
Moving higher, Japan's Nikkei added 0.09 percent, while Thailand collected 0.42 percent and New Zealand climbed 0.59 percent.
The stock markets in Singapore, the Philippines, Malaysia and Indonesia were closed on Monday for Eid-ul-Fitr, the Muslim holiday that marks the end of the holy month of Ramadan. Singapore re-opens on Tuesday, while Malaysia and the Philippines are back on Wednesday and Indonesia returns on Thursday.
by RTT Staff Writer
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