FRANKFURT (dpa-AFX) - With no impetus coming from Wall Street, the DAX is expected to extend its recent setback for now. Broker IG estimated the German benchmark index to open around 0.3 percent lower at 24,729 points, about two and a half hours before the regular Xetra session. This points to the DAX likely drifting back toward its 50-day moving average, currently at 24,624 points. The index has only managed to defend this medium-term trend indicator with difficulty several times recently.
In the United States, there was no trading at the start of the week due to Presidents' Day. In Japan, the Nikkei extended profit-taking on Tuesday morning following last week's record high. Meanwhile, China's stock exchanges remain closed for the Lunar New Year, marking the start of the Year of the Fire Horse./ag/zb
