Opening Mar7

In Asian Equity Markets Japan's Nikkei 225 fell 0.7 percent in morning trade as shares of index heavyweight Fanuc declined 3.43 percent, while the Topix declined 0.77 percent. Renesas Electronics fell 14.62 percent after reports that the company plans to partially stop chip production for up to two months in anticipation of a further slowdown in Chinese demand. Mainland China shares rose in early trade. The Shanghai composite rose more than 0.1 percent. Hong Kong's Hang Seng index, on the other hand, declined 0.21 percent.

In Currency Markets major currencies mostly stuck to tight ranges on Thursday as traders focused their attention on the European Central Bank’s (ECB) policy review later in the day, while the Australian and Canadian dollars struggled near two-month lows. The Aussie hit a fresh two-month low of $0.70205 after data showed retail sales rose 0.1 percent in January, missing expectations for a 0.3 percent increase. The loonie fell as low as C$1.3457 after the release of the BoC’s latest policy statement, its lowest against the greenback since Jan. 4.

In Commodities Markets oil edged up on Thursday amid ongoing OPEC-led supply cuts and U.S. sanctions against exporters Venezuela and Iran, although prices were prevented from rising further by record U.S. crude output and rising commercial fuel inventories. U.S. WTI crude oil futures were at $56.45 per barrel, up 23 cents, or 0.4 percent, from their last settlement. U.S. crude oil stockpiles rose much more than expected last week, with inventories up by 7.1 million barrels to 452.93 million barrels, according to a weekly report by the U.S. Energy Information Administration (EIA) on Wednesday.

In US Equity Markets indexes fell for a third session on Wednesday, with the S&P 500 posting its biggest one-day decline in a month, as healthcare and energy shares fell. The S&P 500 lost 0.65 percent, to 2,771.45 and the Nasdaq Composite fell 0.93 percent, to 7,505.92. The small-cap Russell 2000 fell 2.0 percent, its biggest one-day percentage decline of the year. General Electric shares fell 7.9 percent, extending losses from a day earlier when the conglomerate’s chief executive warned of negative industrial cash flow this year.

In Bond Markets U.S. Treasury yields retreated on Wednesday as stocks weakened and remarks from New York Federal Reserve President John Williams about the persistence of low inflation further curtailed expectations of interest rate hikes in the near future. U.S. 10-year note yields slipped 3.2 basis points to 2.690 percent. U.S. 30-year bond yields also fell, to 3.066 percent, 2.1 basis points lower. At the short end of the curve, two-year yields were down 3.3 basis points to 2.518 percent.