The market may extend two-day losing streak on mostly lower Asian stocks.

Key benchmark indices edged lower in choppy trade on Thursday, 31 May 2012 as traders rolled over positions in the futures & options (F&O) segment from the near-month May 2012 series to June 2012 series. The BSE Sensex lost 93.62 points or 0.57% to 16,218.53, its lowest closing level since 25 May 2012.

Foreign institutional investors (FIIs) sold shares worth a net Rs 665.76 crore on Thursday, 31 May 2012, as per provisional figures from the stock exchange.

Most Asia markets fell Friday after data indicated that momentum is slowing in the Chinese economy. Key benchmark indices in Indonesia, Singapore, Taiwan, Japan, and South Korea were down by 0.04% to 1.23%. Key benchmark indices in China and Hong Kong rose by between 0.37% to 0.65%. China's official version of the manufacturing Purchasing Managers' Index declined to 50.4 in May, from 53.3 in April, well below forecasts

US stocks fell modestly on Thursday to close out the worst month since September as investor sentiment sank on Europe's deepening credit problems. The continuing worry over Europe and a batch of disappointing US economic figures weighed on the market. Jobless claims rose for the seventh week in eight, putting investors on edge before today's US monthly payrolls report.