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Asian markets correct Monday risk-off move on Cyprus

FXstreet.com (Barcelona) - Mainland China’s Shanghai Composite (+0.78%), Hong Kong’s Hang Seng (+0.12%), South Korea’s Kospi (+0.53%) and Japan’s Nikkei Stock Average (+2.03%) rose on Tuesday, erasing part of yesterday’s risk-off losses. The bailout to Cyprus is the cause of so much distress, but there have been talks to smooth the measures to deposits under €100k. The Parliament vote will be today. China’s FDI improved from -7.30% to -1.30% in February, while CB Leading Economic index stayed unchanged at 1.3, with January’s data being revised from 1.0 to 1.3.

Futures for the German DAX 30 (-0.17%) and the French CAC 40 (+0.07%) are signaling a mixed opening ahead of the Cypriot Parliament vote in favor/against the bailout measures. EMU construction output and ZEW economic sentiment survey will be out.

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