Markets are likely to open in the red on account of negative global cues. At 0830 hrs, the SGX Nifty was down 31 points at 6,222.
Overnight, U.S. stocks closed lower on Monday, with investors unable to find new reasons to keep pushing shares higher after eight straight weeks of gains, while the mining sector slid alongside sharp drops in precious metals prices.
The major U.S. stock indexes hovered near break-even levels for much of the day after some encouraging economic data limited early losses, but turned lower in the last hour of the trading day.
The Dow Jones industrial average dropped 0.48 percent, to end at 16,009. The Standard & Poor's 500 Index declined 0.27 percent, to 1,801. The Nasdaq Composite Index fell 0.36 percent, to close at 4,045.
Asian shares slipped and the dollar firmed on Tuesday as an unexpectedly strong U.S. factory activity gauge bolstered expectations the Federal Reserve will soon reduce its stimulus, while the yen tumbled on speculation of further central bank easing.
MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.1 percent.
The yen's weakness helped lift Tokyo's Nikkei benchmark 0.5 percent higher to 15,731.49. The index hit a six-month high of 15,756 in the opening minutes of trade, edging closer to a 5-1/2 year intraday high of 15,943 logged in May.
Overnight, U.S. stocks closed lower on Monday, with investors unable to find new reasons to keep pushing shares higher after eight straight weeks of gains, while the mining sector slid alongside sharp drops in precious metals prices.
The major U.S. stock indexes hovered near break-even levels for much of the day after some encouraging economic data limited early losses, but turned lower in the last hour of the trading day.
The Dow Jones industrial average dropped 0.48 percent, to end at 16,009. The Standard & Poor's 500 Index declined 0.27 percent, to 1,801. The Nasdaq Composite Index fell 0.36 percent, to close at 4,045.
Asian shares slipped and the dollar firmed on Tuesday as an unexpectedly strong U.S. factory activity gauge bolstered expectations the Federal Reserve will soon reduce its stimulus, while the yen tumbled on speculation of further central bank easing.
MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.1 percent.
The yen's weakness helped lift Tokyo's Nikkei benchmark 0.5 percent higher to 15,731.49. The index hit a six-month high of 15,756 in the opening minutes of trade, edging closer to a 5-1/2 year intraday high of 15,943 logged in May.
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