Only a handful of markets were open for business in Asia. Trading is closed in mainland China, Hong Kong, South Korea, Taiwan, Indonesia, Singapore, Malaysia, and the Philippines for Chinese New Year.
Japan's Nikkei 225 stock average closed little changed at 8,765.90 and Australia's S&P/ASX 200 slipped 0.3 percent to 4,225.10. New Zealand's benchmark added 0.6 percent to 3,295.02 and India's Sensex was up 0.1 percent to 16,760.56. Thailand's SET index rose 0.7 percent to 1,065.55.
- India: Pressure mounts on the RBI to act as Business Standard cited a Finance Ministry official saying that the central bank should cur rates to support rate-sensitive sectors, adding that the rate hikes must have been paused before December 2011 as string of rate hikes had stifled growth.
- India: WSJ cited RBI's board member Rajeev Gowda calling for a rate cut on Tue, followed by 100bps reduction by March 2013. He added that RBI alone cannot control inflation and targeted infrastructure investments by the government are required to address structural issues, thereby the bank needs to support growth from slipping below 7%. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
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