The market focus is on monetary policy in the US, Japan and Europe.
Investors will be reluctant to try (to push shares) higher as they wait for more information on the outlook for US and Japanese monetary policy.
This is due to increasing expectations that US policymakers will end their current credit tightening cycle soon.
Market concerns increased also after softer-than-expected quarterly earnings by Microsoft and the increase in lending rates by the Chinese central bank.
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