WELLINGTON, Feb 25 (Reuters) - Asian shares are set to post
strong gains on Wednesday, tracking a bounce on Wall Street after
Federal Reserve Chairman Ben Bernanke soothed fears of bank
nationalisation.
The main U.S. stock indexes gained up to 4 percent, spurred by bargain hunting after the 12-year lows struck on Tuesday, while Bernanke's comments also lifted investor spirits.
The U.S. rally was not enough to lift European stocks, with ongoing fears over the health of banks and the impact of the recession leading markets lower.
Surveys showed business confidence in Germany at a 19-year low and consumer confidence in the U.S. at a record low.
Japanese shares are set to surge, with Nikkei futures traded in Chicago last trading at 7,470 points, 200 points above the last traded level in Osaka.
The U.S. dollar hit a three-month high against the yen as Bernanke warned that if U.S. government efforts to stabilise the economy were not successful, the recession could continue into 2010.
Crude oil prices rose in line with higher equities, also boosted by production cuts from OPEC.
HEADLINES: > Bernanke: recession may tarry but banks to survive > U.S. stocks rally, oil jumps > Obama to reassure US it can pull out of recession > Global economy grim but Fed reassures markets > US home prices fall at record pace, consumers fret > Home Depot results top estimates; shares up > AIG in talks with govt, sees $60 bln loss -source > Oil jumps on stock market bounce, OPEC compliance > JPMorgan slashes dividend; shares rise > UBS to fight US bid for client names in court > Italy seeks nuclear power revival with French help > Thomson Reuters profit beats, sees 2009 rev growth
KEY INDEXES pct change
Bank of New York Asia ADR index 5.05
Dow Jones Industrial Average 3.32
Nasdaq Composite Index 3.90
MSCI Asia Pacific ex-Japan -2.05
Nikkei futures in Chicago 4.04
Nikkei futures in Osaka -0.27
ASIAN ADR ACTION:
5 most actively traded: pct change
TSMC 4.09
Infosys Tech 4.65
Siliconware 1.39
AU Optronics 6.61
BHP Billiton 7.73
Top 5 performers: pct change
Prana Biotech 17.50
Honda Motor 8.19
BHP Billiton 7.73
Advantest 7.73
Toyota Motor 7.69
Bottom 5 performers: pct change
Lihir Gold -5.01
Mahanagar Tel -3.85
Genetic Tech -2.75
Chartered Semi -1.14
Patni Computer -1.00
TOP ASIA EVENTS:
For more Asian company earnings, see
JAPAN - Seiko Epson Corp Q3 results
- Advantest Corp annual outlook
TAIWAN - Compal Electronics Q4 investor
conference
STH KOREA - 2008 consumer trend data
(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 main U.S. stock indexes gained up to 4 percent, spurred by bargain hunting after the 12-year lows struck on Tuesday, while Bernanke's comments also lifted investor spirits.
The U.S. rally was not enough to lift European stocks, with ongoing fears over the health of banks and the impact of the recession leading markets lower.
Surveys showed business confidence in Germany at a 19-year low and consumer confidence in the U.S. at a record low.
Japanese shares are set to surge, with Nikkei futures traded in Chicago last trading at 7,470 points, 200 points above the last traded level in Osaka.
The U.S. dollar hit a three-month high against the yen as Bernanke warned that if U.S. government efforts to stabilise the economy were not successful, the recession could continue into 2010.
Crude oil prices rose in line with higher equities, also boosted by production cuts from OPEC.
HEADLINES: > Bernanke: recession may tarry but banks to survive > U.S. stocks rally, oil jumps > Obama to reassure US it can pull out of recession > Global economy grim but Fed reassures markets > US home prices fall at record pace, consumers fret > Home Depot results top estimates; shares up > AIG in talks with govt, sees $60 bln loss -source > Oil jumps on stock market bounce, OPEC compliance > JPMorgan slashes dividend; shares rise > UBS to fight US bid for client names in court > Italy seeks nuclear power revival with French help > Thomson Reuters profit beats, sees 2009 rev growth
KEY INDEXES pct change
Bank of New York Asia ADR index 5.05
Dow Jones Industrial Average 3.32
Nasdaq Composite Index 3.90
MSCI Asia Pacific ex-Japan -2.05
Nikkei futures in Chicago 4.04
Nikkei futures in Osaka -0.27
ASIAN ADR ACTION:
5 most actively traded: pct change
TSMC 4.09
Infosys Tech 4.65
Siliconware 1.39
AU Optronics 6.61
BHP Billiton 7.73
Top 5 performers: pct change
Prana Biotech 17.50
Honda Motor 8.19
BHP Billiton 7.73
Advantest 7.73
Toyota Motor 7.69
Bottom 5 performers: pct change
Lihir Gold -5.01
Mahanagar Tel -3.85
Genetic Tech -2.75
Chartered Semi -1.14
Patni Computer -1.00
TOP ASIA EVENTS:
For more Asian company earnings, see
JAPAN - Seiko Epson Corp Q3 results
- Advantest Corp annual outlook
TAIWAN - Compal Electronics Q4 investor
conference
STH KOREA - 2008 consumer trend data
(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.