Nikkei Futures Drop Before BOJ Minutes as Kiwi Slips; Oil Gains

Nikkei Futures Drop Before BOJ Minutes as Kiwi Slips; Oil Gains

Japanese index futures fell, with local markets to resume trading after a two-day holiday, as the yen held near a three-week high before the release of minutes from the central bank��s last meeting. The New Zealand dollar weakened while crude oil climbed.

Nikkei 225 Stock Average futures dropped 0.7 percent from their May 2 close to 14,380 by 3 a.m. in Osaka, and lost 0.7 percent in Chicago. Standard & Poor��s 500 Index futures were little changed after the gauge slid 0.9 percent in the U.S. The yen was at 101.70 per dollar by 8:48 a.m. in Tokyo following a 0.5 percent jump in the last session, while New Zealand��s dollar fell 0.5 percent after the nation��s central bank detailed conditions under which is may intervene. Oil in New York added 0.4 percent.

Disappointing earnings from American International Group Inc. and Twitter Inc.��s 18 percent slide dragged down U.S. stock gauges, as the dollar weakened versus major peers. Alibaba Group Holding Ltd. filed for what could be a record U.S. initial public offering after markets closed. Services data for Japan and China is due today, with Hong Kong resuming stocks trading after a holiday yesterday. The U.S. threatened more sanctions against Russia as that country called on Ukraine to postpone its May 25 presidential vote amid ongoing violence.

Source : Bloomberg