Asian Equities Open Cautiously on Lower Oil Prices

Asian indices are set for a modestly higher open on Tuesday, but cautious sentiment could prevail following a mixed finish on Wall Street due to lower energy prices and concerns over Greece’s bailout extension.

Australia’s S&P ASX 200 index inched down nearly 0.1 percent in early trade amid mixed trading in the resources sector, but a broadly higher banking sector helped to offset losses.

BHP Billiton posted a 31 percent drop in half-year profit as prices for all its main products collapsed, but beat market forecasts and flagged further belt tightening to withstand the tough conditions. Shares of the miner was little moved in early trade. The country’s largest insurer by premium income QBE Insurance Group slumped nearly 5 percent after its full-year net profit missed market consensus.


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