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Asian shares are headed for a subdued opening on Tuesday as concerns about China’s property sector re-emerge. Wall Street closed higher and a U.S. bond selloff extended into a fourth week, while a gauge of dollar strength hit its highest level this year, according to a Bloomberg report.
The S&P 500 snapped a four-day slide, rising as traders returned to their desks following the worst weekly selloff on Wall Street since March. The Nasdaq 100 ended the day higher, with Amazon.com Inc. gaining.
Brent crude rose to $93.29 a barrel, and West Texas Intermediate was trading below the $90 mark. The yield on the 10-year U.S. bond was trading at 4.53%, whereas Bitcoin was above the $26,000 level.
At 8:05 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India, was down 0.38%, or 75 points, trading at 19,653.5.
India’s benchmark stock indices ended little changed with a positive bias after declining for four consecutive trading days on Monday. The broader market indices ended higher, with the BSE MidCap ending 0.46% higher and the BSE SmallCap rising 0.12% at the close of the market.
The S&P BSE Sensex closed 14.54 points, or 0.02%, higher at 66,023.69, while the NSE Nifty 50 ended flat at 19,674.55.
Overseas investors remained net sellers of Indian equities on Monday for the fifth consecutive session. Foreign portfolio investors offloaded stocks worth Rs 2,333 crore, according to provisional data from the NSE. Domestic institutional investors remained net buyers and mopped up equities worth Rs 1,579 crore.
The Indian rupee weakened 21 paise to close at 83.15 against the U.S. dollar.
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