The key domestic benchmarks are tipped to open lower today tracking a bearish trend in major Asian markets as ongoing conflicts in Ukraine and the Middle East dim the appeal of risky assets. A dip in US new home sales to the lowest level in four months in July signaled fresh doubts over the recovery in the world’s biggest economy, weighing on sentiment across Asian bourses. Sales of new homes in the US declined 2.4 per cent to an annualized pace of 412,000 in July 2014 over the previous month. China’s Shanghai Composite and Hang Seng were trading lower on concerns over slowing bank lending. Japan’s Nikkei 225 fell as a stronger yen dimmed the appeal of exporter stocks.
