Asian index futures signaled stocks in the region may extend a global selloff amid concern over hemorrhaging oil prices and the outlook for the euro area. The yen maintained gains with gold, while the euro held its drop.
Futures on Japan™s Nikkei 225 Stock Average sank more than 1.6 percent in Chicago and Osaka, while contracts on equity gauges from Hong Kong to South Korea dropped at least 1 percent. The NZX 50 Index slipped 0.6 percent by 11:45 a.m. in Wellington after a 1.8 percent drop in the Standard & Poor™s 500 Index, which capped its first four-day slump in more than a year. The yen rose to 119.37 a dollar following last session™s 0.7 percent gain, while the euro bought $1.1933 after touching an almost nine-year low. Gold traded near a one-week high.
Global equities tumbled the most in more than 18 months yesterday, led by energy producers as benchmark U.S. oil sank below $50 a barrel for the first time since 2009. The prospect of Greece exiting the euro area loomed over trading, as Germany reported slower-than-forecast inflation before an update on euro area consumer prices tomorrow. Services data from China to the U.S. is due today, along with a report on Australian trade.