WELLINGTON, Mar 2 (Reuters) - Asian shares are set to fall on
Monday after U.S. stocks dropped on news of an increased
government stake in Citigroup, raising fears of greater
state involvement in the banking sector.
The main Wall Street indices shed up to 2.4 percent, marking the sixth straight month of losses for the Dow, as data showed the U.S. economy shrank at an annual rate of 6.4 percent in the December quarter.
In separate summits over the weekend Asian and European leaders both rejected trade protectionism as a way to fight the economic downturn.
The meeting of the Association of South East Asian Nations (ASEAN) also endorsed a range of measures to increase access to credit and stimulate local economies.
Japanese shares are likely to ease, with Nikkei futures traded in Chicago last trading at 7,380 points, 140 points below the last traded level in Osaka.
The U.S. dollar gained on the weak U.S. growth data as investors sought the safety of cash, while the yen recouped some of its previous sharp losses on technical buying.
Crude oil prices fell on fears of reduced demand in the world's largest energy consumer, the U.S.
HEADLINES: > AIG board approves revised bailout package-source > EU ready to examine faster euro memberships > Asian and European leaders reject protectionism > ASEAN leaders say coordinating on financial crisis > Govts tighten grip on banks, US economy falters > U.S. economy plummets; Q4 drop biggest since 1982 > GE cutting payout 68 pct to protect 'flexibility' > Bank fear sends S&P to worst-ever start to a year > Citigroup gets new rescue, U.S. may own 36 pct > GM plans Opel spin-off, needs billions from govts > Oil pulled lower by dismal U.S. GDP data > Stanford exec to walk free after posting bail > Blackstone cuts Q4 div, assures for 2009; stock up
KEY INDEXES pct change
Bank of New York Asia ADR index -0.66
Dow Jones Industrial Average -1.66
Nasdaq Composite Index -0.98
MSCI Asia Pacific ex-Japan -1.09
Nikkei futures in Chicago -0.34
Nikkei futures in Osaka -0.53
ASIAN ADR ACTION:
5 most actively traded: pct change
TSMC -1.82
Infosys Tech 0.00
Mitsubishi UFJ 0.22
AU Optronics -0.42
Satyam -19.25
Top 5 performers: pct change
Novogen 16.11
Mahanagar Tel 8.11
Shinhan Fin Gp 5.67
Tom Online 5.22
Mitsui & Co. 3.58
Bottom 5 performers: pct change
Satyam -19.25
Orix -11.23
Webzen -8.76
Prana Biotech -8.40
Patni Computer -5.80
TOP ASIA EVENTS:
For more Asian company earnings, see
HONG KONG - Hang Seng Bank Ltd final results
STH KOREA - February import/export data
- January industrial output
AUSTRALIA - Business indicators, December
(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 Wall Street indices shed up to 2.4 percent, marking the sixth straight month of losses for the Dow, as data showed the U.S. economy shrank at an annual rate of 6.4 percent in the December quarter.
In separate summits over the weekend Asian and European leaders both rejected trade protectionism as a way to fight the economic downturn.
The meeting of the Association of South East Asian Nations (ASEAN) also endorsed a range of measures to increase access to credit and stimulate local economies.
Japanese shares are likely to ease, with Nikkei futures traded in Chicago last trading at 7,380 points, 140 points below the last traded level in Osaka.
The U.S. dollar gained on the weak U.S. growth data as investors sought the safety of cash, while the yen recouped some of its previous sharp losses on technical buying.
Crude oil prices fell on fears of reduced demand in the world's largest energy consumer, the U.S.
HEADLINES: > AIG board approves revised bailout package-source > EU ready to examine faster euro memberships > Asian and European leaders reject protectionism > ASEAN leaders say coordinating on financial crisis > Govts tighten grip on banks, US economy falters > U.S. economy plummets; Q4 drop biggest since 1982 > GE cutting payout 68 pct to protect 'flexibility' > Bank fear sends S&P to worst-ever start to a year > Citigroup gets new rescue, U.S. may own 36 pct > GM plans Opel spin-off, needs billions from govts > Oil pulled lower by dismal U.S. GDP data > Stanford exec to walk free after posting bail > Blackstone cuts Q4 div, assures for 2009; stock up
KEY INDEXES pct change
Bank of New York Asia ADR index -0.66
Dow Jones Industrial Average -1.66
Nasdaq Composite Index -0.98
MSCI Asia Pacific ex-Japan -1.09
Nikkei futures in Chicago -0.34
Nikkei futures in Osaka -0.53
ASIAN ADR ACTION:
5 most actively traded: pct change
TSMC -1.82
Infosys Tech 0.00
Mitsubishi UFJ 0.22
AU Optronics -0.42
Satyam -19.25
Top 5 performers: pct change
Novogen 16.11
Mahanagar Tel 8.11
Shinhan Fin Gp 5.67
Tom Online 5.22
Mitsui & Co. 3.58
Bottom 5 performers: pct change
Satyam -19.25
Orix -11.23
Webzen -8.76
Prana Biotech -8.40
Patni Computer -5.80
TOP ASIA EVENTS:
For more Asian company earnings, see
HONG KONG - Hang Seng Bank Ltd final results
STH KOREA - February import/export data
- January industrial output
AUSTRALIA - Business indicators, December
(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.