Global market: Asian shares, SGX Nifty fall as Wall Street rally pauses; Apple shares slip; Triggers for Indian market

Asian markets declined on Tuesday as the rally on Wall Street took a breather following broader weakness in global stocks. 

Investors remained on the sideline amid increased hopes that the US Federal Reserve will not raise interest rates after data showed slowing US wage growth.

According to CME Group's FedWatch tool, traders have priced in an 81.7% chance that the Fed will hold interest rates at its June 13-14 policy meeting, Reuters reported.

Meanwhile, in the US, shares of tech giant Apple Inc fell below $180 overnight as iOS, VisionPro failed to enthuse investors. The stock ended down 0.76% at $179.58.

At WWDC on Monday, Apple announced a 15-inch MacBook Air powered by an Apple-designed M2 processor chip.

On the domestic front, investors will keep an eye on the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) meeting that begins on June 6 . The RBI is widely expected to keep repo rates on hold. 

Asian Markets

Australia’s S&P/ASX 200 opened lower by 0.35% ahead of the country’s central bank rate decision. 

In Japan, the Nikkei 225 declined 0.64%, while the Topix also dropped 0.62%.

Hong Kong’s Hang Seng index futures were trading around 37 points lower at 19,071.

South Korea’s markets are closed for a holiday.

The SGX Nifty was trading 0.14% lower at 18,699.5, indicating a lower start for the Indian benchmark indices.

US Market

The Dow Jones Industrial Average declined 199.90 points, or 0.6%, to end at 33,562.86. The S&P 500 ended 8.58 points, or 0.2%, lower at 4,273.79, while the tech heavy Nasdaq Composite lost 11.34 points, or 0.09% to close at 13,229.43.

European Markets

European stocks declined on Monday with the pan-European STOXX 600 index falling 0.4%.

Britain’s FTSE 100 eased 0.1% to 7,599.99, while Germany’s DAX was down 0.5% at 15,963.89. France’s CAC 40 dropped 1% at 7,200.91.

Energy 

Crude oil prices traded lower, giving up most of the prior session's gains, as traders weighed on demand and supply outlook following Saudi Arabia’s pledge to deepen supply cuts.

Brent crude futures fell 0.34% to $76.45 a barrel, while the US West Texas Intermediate crude declined 0.40% to $71.86 a barrel.

Gold price today

Gold prices traded largely flat amid hopes amid increased expectations that the US Federal Reserve might pause its monetary policy tightening cycle this month.

Spot gold was flat at $1,961.09 per ounce, while US gold futures rose 0.2% to $1,977.30.

(With inputs from Reuters)