MARKET EYE-SGX Nifty up; earnings key
* Nifty futures on the Singapore Exchange up 0.06 percent. The MSCI-Asia Pacific index, excluding Japan is up 0.35 percent. * Asian shares inched up on Wednesday but the upside was limited as investors waited warily for the corporate earnings season to kick off in full force, preferring in the meantime to book profits from a sharp rally at the start of the year. * Foreign investors bought 8.87 billion rupees of stocks, while domestic institutions sold 10.28 billion rupees of stocks on Tuesday, when India's BSE index rose 0.26 percent. * Traders say third-quarter earnings would be a key focus in the near term, but don't expect any material positives. However, any hint of positive earnings from IT major Infosys on Friday will set a positive tone for the markets. * Indusind Bank reports December quarter earnings later in the day.
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U.S. President Barack Obama and Indian Prime Minister Narendra Modi agreed on Tuesday to deepen U.S.-Indian cooperation on maritime security to ensure freedom of navigation in what amounts to a response to China's naval muscle-flexing in Asia. Story | Full Coverage