The Asian stock markets are looking at a lower open on Tuesday, with investors expected to lock in gains after rallying in recent sessions.
Adding to the cautious sentiment are soft economic data from the U.S. and concerns of an escalation of hostilities between China and Japan over a group of disputed islands.
The New York Federal Reserve said its general business conditions index fell to -10.41 in September from -5.85 in August, with a negative reading indicating a contraction in regional manufacturing activity. Economists had been expecting the index to climb to -2.0.
The major U.S. averages were in the red on Monday as the Dow fell 40.27 points or 0.3 percent to finish at 13,553.10, while the NASDAQ edged down 5.28 points or 0.2 percent to end at 3,178.67 and the S&P 500 slipped 4.58 points or 0.3 percent to close at 1,461.19.
The major European markets were down on Monday as the DAX of Germany fell 0.11 percent and the CAC 40 of France decreased 0.78 percent. The FTSE 100 of the U.K. dropped 0.37 percent and the SMI of Switzerland eased 0.10 percent.
The Asian markets were mixed on Monday as India gained 0.42 percent, while Taiwan was up 0.31 percent, Singapore's Straits Times gathered 0.27 percent, Australia added 0.26 percent, Thailand rose 0.19 percent and Hong Kong's Hang Seng collected 0.14 percent.
Moving lower, China's Shanghai Composite plummeted 2.14 percent, South Korea's KOSPI fell 0.26 percent and Indonesia eased 0.04 percent. Markets in Japan and Malaysia were off on holiday.
by RTT Staff Writer
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