Asia to open on a weak note on high inflation, US worries

Indian markets may see another gap-down opening on Monday as rise in local inflation figures and a sharp fall in the US markets on Friday after reports said that the US hedge fund Bear Stearns' will seek emergency funding from the Federal Reserve and JPMorgan in the largest government bailout of a US securities firm will weigh heavy on the minds of investors.

S&P 500 was down 2.08 per cent, while the NASDAQ was down 2.26 per cent on Friday, which is likely to trigger a weak opening across Asian markets, including the Indian markets, on Monday.

The trading volumes will also be weak as most operators are in a holiday mood, said dealers. The markets will remain closed on Thursday (Id-E-Milad) and Friday (Holi and Good Friday).