WELLINGTON, Feb 18 (Reuters) - Asian shares are set to slide
on Wednesday, as U.S. stocks fell on deepening recession fears
and renewed concerns over the future of European banks.
The Dow Jones and Standard & Poor's 500 both fell to three-month lows, as investors felt the economic outlook was set to deteriorate, despite President Barack Obama signing into law a $787 billion economic stimulus package.
Financial stocks tumbled after two leading ratings agencies warned problems in banks in emerging European markets could flow through to the broader banking sector. See.
Japanese shares are set for a slide, with Nikkei futures traded in Chicago last trading at 7,455 points, 155 points lower than the last traded level in Osaka.
Japan's finance minister Shoichi Nakagawa resigned on Tuesday after being forced to deny he was drunk at a G7 news conference, in a further blow to Prime Minister Taro Aso's deeply unpopular government.
Recession fears and the banking warning saw the dollar gain while the yen and the euro fell.
Crude oil prices fell below $35 a barrel while fears of weak demand saw most commodity prices slide.
HEADLINES: > Obama signs stimulus; stocks dive; auto plans due > GM, Chrysler ready survival plans > U.S. charges Allen Stanford with 'massive' fraud > U.S. stocks sink to November lows > Obama signs stimulus into law > U.S. housing, factories grim in February > Wal-Mart profit beats Wall St view, shares up > German investor morale boosts recovery hopes > China lends Russia $25 bln to get 20 years of oil > China fund eyes bid for $8 bln AIG unit-sources > Russia economic outlook darkens,GDP f'cast slashed
KEY INDEXES pct change
Bank of New York Asia ADR index -6.19
Dow Jones Industrial Average -3.79
Nasdaq Composite Index -4.15
MSCI Asia Pacific ex-Japan -3.82
Nikkei futures in Chicago -3.50
Nikkei futures in Osaka -0.39
ASIAN ADR ACTION:
5 most actively traded: pct change
TSMC -6.88
Infosys Tech -4.89
Siliconware -9.94
Mitsubishi UFJ -8.10
Lihir Gold 6.05
Top 5 performers: pct change
Lihir Gold 6.05
SMIC 3.66
Tata Motors 1.80
NTT Docomo 1.12
Prana Biotech 1.01
Bottom 5 performers: pct change
Chartered Semi -16.32
Kookmin Bank -16.25
Woori Fin Gp -15.09
ICICI Bank -13.63
Kubota Corp. -13.35
TOP ASIA EVENTS:
For more Asian company earnings, see
JAPAN - Bank of Japan begins two day policy meeting
HONG KONG - Nine Dragons Paper (Holdings) Ltd
H1 results
AUSTRALIA - Q4 retail trade quarterly indicators
- Woodside Petroleum Ltd year result
TAIWAN - Q4 GDP
(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 2009. 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.
The Dow Jones and Standard & Poor's 500 both fell to three-month lows, as investors felt the economic outlook was set to deteriorate, despite President Barack Obama signing into law a $787 billion economic stimulus package.
Financial stocks tumbled after two leading ratings agencies warned problems in banks in emerging European markets could flow through to the broader banking sector. See.
Japanese shares are set for a slide, with Nikkei futures traded in Chicago last trading at 7,455 points, 155 points lower than the last traded level in Osaka.
Japan's finance minister Shoichi Nakagawa resigned on Tuesday after being forced to deny he was drunk at a G7 news conference, in a further blow to Prime Minister Taro Aso's deeply unpopular government.
Recession fears and the banking warning saw the dollar gain while the yen and the euro fell.
Crude oil prices fell below $35 a barrel while fears of weak demand saw most commodity prices slide.
HEADLINES: > Obama signs stimulus; stocks dive; auto plans due > GM, Chrysler ready survival plans > U.S. charges Allen Stanford with 'massive' fraud > U.S. stocks sink to November lows > Obama signs stimulus into law > U.S. housing, factories grim in February > Wal-Mart profit beats Wall St view, shares up > German investor morale boosts recovery hopes > China lends Russia $25 bln to get 20 years of oil > China fund eyes bid for $8 bln AIG unit-sources > Russia economic outlook darkens,GDP f'cast slashed
KEY INDEXES pct change
Bank of New York Asia ADR index -6.19
Dow Jones Industrial Average -3.79
Nasdaq Composite Index -4.15
MSCI Asia Pacific ex-Japan -3.82
Nikkei futures in Chicago -3.50
Nikkei futures in Osaka -0.39
ASIAN ADR ACTION:
5 most actively traded: pct change
TSMC -6.88
Infosys Tech -4.89
Siliconware -9.94
Mitsubishi UFJ -8.10
Lihir Gold 6.05
Top 5 performers: pct change
Lihir Gold 6.05
SMIC 3.66
Tata Motors 1.80
NTT Docomo 1.12
Prana Biotech 1.01
Bottom 5 performers: pct change
Chartered Semi -16.32
Kookmin Bank -16.25
Woori Fin Gp -15.09
ICICI Bank -13.63
Kubota Corp. -13.35
TOP ASIA EVENTS:
For more Asian company earnings, see
JAPAN - Bank of Japan begins two day policy meeting
HONG KONG - Nine Dragons Paper (Holdings) Ltd
H1 results
AUSTRALIA - Q4 retail trade quarterly indicators
- Woodside Petroleum Ltd year result
TAIWAN - Q4 GDP
(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 2009. 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.