Stocks slipped on Monday and U.S. futures wavered amid challenges from the China Evergrande Group debt crisis and a Federal Reserve meeting this week that’s expected to hint at moving toward tapering stimulus.
Australian shares fell and Hong Kong futures were in the red earlier. U.S. contracts fluctuated after the S&P 500 slid the most in a month, testing the dip-buying psychology as the gauge jabs at its 50-day moving average. Markets in Japan, China and South Korea are closed for holidays.
India’s SGX Nifty 50 Index futures for September delivery fell 0.9% to 17,447.00, while MSCI Asia Pacific Index shedding 1%. The NSE Nifty 50 Index fell 0.3% on Friday to 17,585.15.
Ten-year tTreasury yields have risen ahead of the Fed meeting this week where policy makers are expected to start laying the groundwork for paring stimulus. Cash Treasuries won’t trade on Monday in Asia because of a holiday in Japan. The dollar ticked up.
Elsewhere, iron ore will be closely watched after falling below $100 a metric ton for the first time in more than a year.
Back home, Nazara Tech, Speciality Restaurants are holding their annual shareholders’ meeting. Foreign investors bought net Rs 1,840 crore of stocks on Sept. 16, according to NSDL website.
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