Asian share markets fell on Thursday as investors were cautious ahead of manufacturing data from China, while a sharp slide in Apple Inc shares following its earnings report also capped demand.

The yen’s rebound came to an abrupt halt on Thursday with investors wary about cutting bearish bets further amid expectations the Bank of Japan will come under renewed pressure
to ease policy.

U.S. crude futures dropped 1.5 percent on Wednesday in heavy trading after a key oil pipeline reduced the volume flowing through it, raising concerns inventories at the Midwest delivery point for the contract might swell further.

U.S. Treasuries prices edged up on Wednesday after a vote by the House of Representatives to extend the borrowing authority under the federal debt limit to May, and as some investors worried that growth is likely to remain tepid.

    LOCAL MARKETS PREVIOUS CLOSE
* BSE index 20,026.61 (+0.23 pct)
* NSE index 6,054.30 (+0.10 pct)
* Rupee 53.6650/6750 per dollar (53.81/82)
* 10-year bond yield 7.86 pct (7.85 pct)
* 5-year OIS rate 7.14 pct (7.12 pct)
* 1-year OIS rate 7.55 pct (7.53 pct)
* Call money 8.00/8.10 pct (8.05/8.10 pct)

Duvvuri Subbarao, governor of the Reserve Bank of India,  will meet Finance Minister P Chidambaram on Thursday around 0400 IST (1030 GMT) ahead of Jan. 29 review of monetary policy.

India’s oil ministry will soon recommend a revision in local gas prices, a government source said, which if accepted would bring a windfall for state-run producers – Oil and Natural Gas Crop and Oil India.

India’s central bank has barred foreign institutional investors (FIIs) from buying shares in Pantaloon Retail Ltd , after the company breached the overall limit of 24 percent of its paid-up capital.

The chief economist at the International Monetary Fund on Wednesday shot down the notion that easy monetary and fiscal policies in advanced economies risk sparking a “currency war”, saying there has not been a major surge of capital into emerging nations.

Indian banks’ deposit advances and deposits grew at a slower pace in the first nine months of the financial year 2012-13 compared with a year earlier and are likely to fall short of the central bank’s projection by March-end.