Nifty futures on Singapore Exchange fell 0.5 percent, while the MSCI-Asia Pacific index excluding Japan fell 0.9 percent.

The S&P 500 suffered its worst day since June on Tuesday, pulled lower by Caterpillar Inc after it cut its profit outlook, the latest high-profile company to warn about profit growth. Asian shares fell on Wednesday as protests in Spain underscored concerns about the country’s financing difficulties.

FACTORS TO WATCH
India to sell 120 billion rupees of treasury bills.

INDIAN STOCKS TO WATCH

FINANCIAL/REGULATORY

HDFC Bank, India’s second largest private bank, has said it might also slash the minimum lending rate, said managing director Aditya Puri, on the sidelines of an event.

Barclays will shut three of its nine bank branches in India by end of this month, two sources with direct knowledge of the development said on Tuesday.

ENERGY/COMMODITIES
Venezuela will hike the amount of oil it is sending to India’s Reliance Industries and signed a new 15-year supply contract with the company on Tuesday, the oil minister said.

Reliance Industries is likely to directly bid for mobile telephone spectrum in the upcoming auction to complement its wireless broadband services with voice call facility, a source privy to the development said.

Indian billionaire Gautam Adani is pushing full-steam ahead with a $4.5 billion project in Australia to secure coal to feed an expansion of the Adani Group’s power production capacity in India.

NTPC isn’t ready to sign fuel supply agreements with Coal India despite changes in the format including higher penalties for deliveries, according to NTPC Chairman Arup Roy Choudhury.