Asian markets are primed for a cautious open after a choppy day on Wall Street ended flat as investors balanced hot inflation data with Federal Reserve commentary suggesting US interest rates may soon peak.
The U.S. futures edged lower in early Asian trading. The S&P 500 ended Tuesday little changed while the tech-heavy Nasdaq 100, which is more sensitive to higher interest rates, rose 0.7%.
Meanwhile, the yield on 10-year Treasuries advanced to 3.74%. Crude prices were trading around $85-mark, while Bitcoin trading below 22,000-level.
At 6:01 a.m., the Singapore-traded SGX Nifty, an early indicator of India’s benchmark Nifty 50, was up 0.13% at 17,950.
Domestic benchmark indices held on to steady gains and advanced in trade on Tuesday after a day of decline on rise in consumer price inflation.
Rupee further weakened against a stronger U.S. dollar, declining 3 paisa after losing the strong opening earlier in the day.
Overseas investors in Indian equities remained net buyers for the third day in a row on Tuesday. Foreign portfolio investors mopped up equities worth Rs 1,305.03 crore, while the domestic institutional investors also bought stocks worth Rs 204.79 crore. They previously snapped a 13-day buying streak on Feb. 9.