Japan's Nikkei index dipped today to extend the previous session's sharp losses, and European stock index futures pointed to a lower open on concerns about Spain's borrowing costs.

The Nikkei eased 0.1 per cent to 9,464,71 after shedding 1.7 per cent yesterday, falling below the key level of 9,500 on concerns over Spain's finances.

The broader Topix was down 0.1 per cent at 803.09.

Social gaming firm Gree surged 9.1 per cent and was the most heavily traded stock on the main board by turnover after Merrill Lynch lifted its price objective on the company and maintained its "buy" rating.

At 7.02am, futures for Euro Stoxx 50, for Germany's Dax and for France's Cac were down between 0.2 per cent and 0.4 per cent.

Concerns over Spain’s borrowing costs capped appetite for equities ahead of an auction of Spanish debt later in the day.

Reuters