Market Live Updates: Indian indices likely to remain in range; SGX Nifty in green

Steady start in Asian stocks

Asian stocks held steady on Tuesday after falling five days ahead of US inflation data, which could affect hopes of a possible timeline for a reduction in Federal Reserve stimulus. Japan’s Nikkei 225 stock average rose and was on track for its highest level since 1990. South Korea climbed but Australia slipped. US contracts fluctuated after energy companies strengthened the S&P 500 overnight. Treasury yields declined and the dollar changed little. Commodities have risen to 10-year highs, with records ranging from aluminum to steel rallying and hitting European gas and electricity. The rising cost pressures come as traders await a report that is expected to show an annualized pace of US inflation of 5% or more for the fourth month. Chinese technology stocks listed in the US fell for the fourth day on the back of Beijing’s regulatory action. China Evergrande Group’s debt crisis will be closely monitored amid growing protests from homebuyers, retail investors and employees. The developer said it has hired financial advisors to assess its capital structure.

As of 9:26 a.m. in Tokyo, S&P 500 futures were up 0.1%. S&P 500 up 0.2%

The Nasdaq 100 contracts rose 0.1%. The Nasdaq 100 Was Little Changed

Topix Index up 0.4%

Australia’s S&P/ASX 200 index drops 0.4%

Kospi index rose 0.7%

Hang Seng Index futures up 0.2% earlier

US stocks fall

U.S. stocks fell on a five-day low, with energy companies gaining ground, as crude rallied to a six-week high. Bond yields declined and the dollar changed little compared to its major peers. The benchmark S&P 500 closed in the green after fluctuating between gains and losses for most of the trading session. A drop in Moderna helped keep the Nasdaq 100 in negative territory. OPEC predicted stronger demand for its crude on a combination of rising global fuel consumption and production disruptions elsewhere. Industrial metals rallied with aluminum reaching $3,000 a tonne in London for the first time in 13 years amid supply disruptions.

The S&P 500 rose 0.2% as of 4:07 p.m. New York time

The Nasdaq 100 Was Little Changed

The Dow Jones Industrial Average rose 0.8%

The MSCI World Index was slightly changed