The Asian stock markets are looking at a cautious start with a tight range on Tuesday, as ongoing concerns over European debt are exacerbated by a lack of other impetus since the U.S. markets were closed on Monday for Memorial Day.
The Swiss National Bank is considering setting up a task force to draw an emergency plan for dealing with a possible collapse of the euro, though the bank believes such a scenario is highly unlikely, SNB President Thomas Jordan said.
Also, Italy's borrowing costs increased on Monday on fears over Greece exiting the euro currency. The treasury raised EUR 3.5 billion from new May 2014 zero-coupon bonds or CTZ, matching the maximum target set for the auction - but the gross yield rose to 4.037 percent.
In addition, Italy's business confidence fell more than expected to its lowest level since August 2009, the statistical office Istat said on Monday. The business sentiment index dropped to 86.2 in May from 89.1 in April.
Further, record borrowing costs and bank troubles in Spain continue to suggest that it could possibly be the next nation to seek international financial assistance.
The major European markets were mixed on Monday as Germany's DAX was down 16.75 points or 26 percent to finish at 6,323.19. The CAC in France eased 4.97 points or 0.16 percent to end at 3,042.97 and London's FTSE added 4.81 points or 0.09 percent to end at 5,356.34.
The Asian markets were higher on Monday as India jumped 1.23 percent, while China's Shanghai Composite jumped 1.19 percent, Taiwan climbed 0.91 percent, Thailand was up 0.63 percent, Singapore's Straits Times gathered 0.52 percent, Hong Kong's Hang Seng collected 0.47 percent, Indonesia rose 0.4 percent, Malaysia added 0.25 percent and Japan's Nikkei was up 0.15 percent. South Korea was off on holiday.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.