SGX Nifty edges lower, stock markets look oversold-traders

Written by Reuters | Mumbai | Updated: Feb 11 2013, 16:37pm hrs
Nifty SGX futures on the Singapore Exchange fell 0.05 percent.

The MSCI-Asia Pacific index, excluding Japan down 0.07 percent.

* With the Lunar New Year holiday shutting most Asian financial centers, including those in Japan, China, Hong Kong, Singapore and South Korea, trading was light and potentially volatile on those exchanges that remained open.

* Traders say the market looks closer to being oversold after India's benchmark index fell for a seventh day to mark its biggest losing streak since November, 2011.

* MCX-SX stock exchange launches equities trading. Volumes will be watched given its history of competition with the National Stock Exchange.

* MCX-SX's main stakeholders are the Multi-Commodity Exchange of India, India's biggest commodity bourse, and Financial Technologies, which provides trading platforms and other related technology.

* Earnings On Monday: Oil and Natural Gas Corp Ltd, Tata Power Co Ltd.