WELLINGTON, Dec 4 (Reuters) - Asian shares are set to start
firmer on Thursday after Wall Street ended a volatile session on
a positive note, though ongoing worries about a global recession
are likely to keep gains muted.
Major U.S. stock indices all gained over 2 percent, having earlier been in the red, though investor sentiment remained cautious after fresh data pointed to a weak economy.
Defensive stocks such as Coca-Cola and McDonald's gained, as the Federal Reserve's Beige Book summary showed economic activity in the U.S. had weakened since early October.
Interest rate cuts are expected later in the day from European and British central banks, while New Zealand's central bank slashed rates by a record 150 basis points to 5 percent in an effort to jolt the economy out of recession.
Nikkei share average futures traded in Chicago gained a little over 1 percent.
The U.S. dollar and the yen were little changed ahead of the central bank rate reviews, while oil and other commodity prices continued to fall on global demand concerns.
HEADLINES: > Recession fears deepen, rate cuts on horizon > All options on table as Congress reviews bailout > US jobs, services slump show recession toll > Obama says automakers' plan is 'more serious' > Wall St jumps on Coke and other defensive plays > NZ cenbank cuts rates by record 150 bps to 5 pct > Oil dips as demand crumbles, OPEC eyes deeper cuts > Fed's Lacker: Buy debt to beat deflation > Rice pushes Pakistan, seeks to curb India response > Legg Mason's Miller: 'Bottom's been made' in stks > Freeport-McMoRan stock down on capex cut, dividend > BlackBerry-maker hit as subscriber growth slows
KEY INDEXES pct change
Bank of New York Asia ADR index 0.95
Dow Jones Industrial Average 2.05
Nasdaq Composite Index 2.94
MSCI Asia Pacific ex-Japan 1.24
Nikkei futures in Chicago 1.24
Nikkei futures in Osaka -1.74
ASIAN ADR ACTION:
5 most actively traded pct change
Siliconware -6.06
TSMC 3.15
Infosys Tech -0.90
BHP Billiton 1.48
Mitsubishi UFJ -2.90
Top 5 performers: pct change
Tom Online 19.20
Yanzhou Coal 8.74
Shinhan Fin Gp 8.51
Huaneng Power 7.96
Shanghai Pechem 7.96
Bottom 5 performers: pct change
Rio Tinto -13.82
Novogen -13.82
Orix -10.52
Tata Motors -6.61
Chartered Semi -6.29
TOP ASIA EVENTS:
For more Asian company earnings, see
JAPAN - Q3 Business capital spending
AUSTRALIA - National commodity statistics
(Reporting by Adrian Bathgate) For top Asian company news, double click on: U.S. company news European company news U.S. weekly outlook European weekly outlook Forex news Global Economy news Tech/Telecoms/Media Banking news Political/General news Asia Macro data ASIA STOCK MARKETS: Pan-Asia........ Japan....... S.Korea... S.E. Asia....... Hong Kong... Taiwan.... Australia/NZ.... India....... China..... DIARIES & DATA: IPO diary/data Asia earnings diary U.S. earnings diary European diary Hong Kong diary Wall Street Week Ahead Eurostocks Week Ahead LIVE PRICES & DATA: World Stocks Asian Stocks Dow Jones/NASDAQ / Nikkei FTSE 100 Debt Currency rates Keywords: MARKETS ASIA/ (adrian.bathgate@reuters.com; +64-4-4714233; Reuters Messaging: adrian.bathgate.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Major U.S. stock indices all gained over 2 percent, having earlier been in the red, though investor sentiment remained cautious after fresh data pointed to a weak economy.
Defensive stocks such as Coca-Cola and McDonald's gained, as the Federal Reserve's Beige Book summary showed economic activity in the U.S. had weakened since early October.
Interest rate cuts are expected later in the day from European and British central banks, while New Zealand's central bank slashed rates by a record 150 basis points to 5 percent in an effort to jolt the economy out of recession.
Nikkei share average futures traded in Chicago gained a little over 1 percent.
The U.S. dollar and the yen were little changed ahead of the central bank rate reviews, while oil and other commodity prices continued to fall on global demand concerns.
HEADLINES: > Recession fears deepen, rate cuts on horizon > All options on table as Congress reviews bailout > US jobs, services slump show recession toll > Obama says automakers' plan is 'more serious' > Wall St jumps on Coke and other defensive plays > NZ cenbank cuts rates by record 150 bps to 5 pct > Oil dips as demand crumbles, OPEC eyes deeper cuts > Fed's Lacker: Buy debt to beat deflation > Rice pushes Pakistan, seeks to curb India response > Legg Mason's Miller: 'Bottom's been made' in stks > Freeport-McMoRan stock down on capex cut, dividend > BlackBerry-maker hit as subscriber growth slows
KEY INDEXES pct change
Bank of New York Asia ADR index 0.95
Dow Jones Industrial Average 2.05
Nasdaq Composite Index 2.94
MSCI Asia Pacific ex-Japan 1.24
Nikkei futures in Chicago 1.24
Nikkei futures in Osaka -1.74
ASIAN ADR ACTION:
5 most actively traded pct change
Siliconware -6.06
TSMC 3.15
Infosys Tech -0.90
BHP Billiton 1.48
Mitsubishi UFJ -2.90
Top 5 performers: pct change
Tom Online 19.20
Yanzhou Coal 8.74
Shinhan Fin Gp 8.51
Huaneng Power 7.96
Shanghai Pechem 7.96
Bottom 5 performers: pct change
Rio Tinto -13.82
Novogen -13.82
Orix -10.52
Tata Motors -6.61
Chartered Semi -6.29
TOP ASIA EVENTS:
For more Asian company earnings, see
JAPAN - Q3 Business capital spending
AUSTRALIA - National commodity statistics
(Reporting by Adrian Bathgate) For top Asian company news, double click on: U.S. company news European company news U.S. weekly outlook European weekly outlook Forex news Global Economy news Tech/Telecoms/Media Banking news Political/General news Asia Macro data ASIA STOCK MARKETS: Pan-Asia........ Japan....... S.Korea... S.E. Asia....... Hong Kong... Taiwan.... Australia/NZ.... India....... China..... DIARIES & DATA: IPO diary/data Asia earnings diary U.S. earnings diary European diary Hong Kong diary Wall Street Week Ahead Eurostocks Week Ahead LIVE PRICES & DATA: World Stocks Asian Stocks Dow Jones/NASDAQ / Nikkei FTSE 100 Debt Currency rates Keywords: MARKETS ASIA/ (adrian.bathgate@reuters.com; +64-4-4714233; Reuters Messaging: adrian.bathgate.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.