Asia poised for flat open

Futures pointed to a flat open for Asian markets on Wednesday, as a lower finish in the U.S. stock market offset the impact of a rise in oil prices.

Australia's SPI futures traded at 5,482, lower than the ASX 200's last close at 5,531.98.

One stock to watch in the Australian trading session would be miner BHP Billiton, which posted a record $6.4 billion annual loss on Tuesday due to a slump in commodities and a dam disaster in Brazil. BHP shares in London closed up 0.67 percent, with investors likely comforted by a better-than-expected underlying profit print.

Meanwhile, Nikkei futures in Chicago traded at 16,620 while Osaka futures were at 16,580. The Japanese benchmark index finished the Tuesday session at 16,596.51.

Japanese stocks are likely to remain under pressure as a result of a relatively stronger yen against the dollar. As of 6:39 a.m. HK/SIN, the dollar/yen pair traded at 100.29, compared to levels above 101.00 last week.Analysts expect further yen strength in the near future, following the market's disappointment with the Bank of Japan's stimulus plans.

Global benchmark Brent was up 1.8 percent to $49.23 a barrel, while U.S. crude futures gained 1.8 percent to $46.58.
Reuters, citing sources at OPEC, reported of Saudi Arabia's desire for higher oil prices, which lent further credibility to speculations over possible OPEC action.
Stateside, the Dow Jones industrial average slipped 84.03 points, or 0.45 percent, to 18,552.02; the S&P 500 index ended 12 points lower, or 0.55 percent, to 2,178.15 and the Nasdaq fell 34.90 points, or 0.66 percent, to 5,227.11.

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