WELLINGTON, March 4 (Reuters) - Asian shares are set to fall
further on Wednesday as fears over the health of the global
banking system continue to dominate investor sentiment.
Stock markets in the U.S. extended losses, with the Standard & Poor's 500 Index falling below 700 for the first time in more than 12 years, after Federal Reserve Chairman Ben Bernanke's cautious comments about the economy and banks failed to do much to lift the gloom.
The recession continues to deepen, with the first quarter of 2009 set to be the worst quarter of all, the Organisation for Economic Cooperation and Development (OECD) told Reuters.
Japanese shares are set to slide, with Nikkei futures traded in Chicago last trading at 7,065 points, 125 points below the last traded level in Osaka.
The steady stream of bad news continued to support the U.S. dollar, which gained against the yen on safe-haven buying.
Crude oil prices gained almost 4 percent on expectations of further output cuts from OPEC.
HEADLINES: > U.S. had no choice but to rescue AIG-Bernanke > S&P below 700 as banks' future still in question > U.S. auto sales plunge as recession deepens > Geithner: bailout costs may rise > Obama, Brown urge global action on economy > Clinton pledges to press for Palestinian state > Oil rises nearly 4 pct on OPEC, stock bounce > GE reputation 'tarnished' concedes CEO Immelt > Carmakers push for aid, German sales up > In Madoff asset search, wife's worth adds intrigue
KEY INDEXES pct change
Bank of New York Asia ADR index 1.21
Dow Jones Industrial Average -0.55
Nasdaq Composite Index -0.14
MSCI Asia Pacific ex-Japan 0.31
Nikkei futures in Chicago -0.07
Nikkei futures in Osaka -0.28
ASIAN ADR ACTION:
5 most actively traded: pct change
TSMC 4.43
Infosys Tech 1.32
Mitsubishi UFJ 1.22
Siliconware 6.94
HSBC Holdings -1.06
Top 5 performers: pct change
Chalco 8.26
Siliconware 6.94
LG.Philips 6.17
KEPCO 5.80
Sony Corp. 5.47
Bottom 5 performers: pct change
Prana Biotech -8.34
Mitsui & Co. -6.11
James Hardie -5.73
NTT -4.50
Satyam -4.32
TOP ASIA EVENTS:
For more Asian company earnings, see
HONG KONG - Hong Kong Exchanges and Clearing Ltd
final results news briefing
- Hutchison Telecommunications International Ltd
final results news conference
AUSTRALIA - 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.
Stock markets in the U.S. extended losses, with the Standard & Poor's 500 Index falling below 700 for the first time in more than 12 years, after Federal Reserve Chairman Ben Bernanke's cautious comments about the economy and banks failed to do much to lift the gloom.
The recession continues to deepen, with the first quarter of 2009 set to be the worst quarter of all, the Organisation for Economic Cooperation and Development (OECD) told Reuters.
Japanese shares are set to slide, with Nikkei futures traded in Chicago last trading at 7,065 points, 125 points below the last traded level in Osaka.
The steady stream of bad news continued to support the U.S. dollar, which gained against the yen on safe-haven buying.
Crude oil prices gained almost 4 percent on expectations of further output cuts from OPEC.
HEADLINES: > U.S. had no choice but to rescue AIG-Bernanke > S&P below 700 as banks' future still in question > U.S. auto sales plunge as recession deepens > Geithner: bailout costs may rise > Obama, Brown urge global action on economy > Clinton pledges to press for Palestinian state > Oil rises nearly 4 pct on OPEC, stock bounce > GE reputation 'tarnished' concedes CEO Immelt > Carmakers push for aid, German sales up > In Madoff asset search, wife's worth adds intrigue
KEY INDEXES pct change
Bank of New York Asia ADR index 1.21
Dow Jones Industrial Average -0.55
Nasdaq Composite Index -0.14
MSCI Asia Pacific ex-Japan 0.31
Nikkei futures in Chicago -0.07
Nikkei futures in Osaka -0.28
ASIAN ADR ACTION:
5 most actively traded: pct change
TSMC 4.43
Infosys Tech 1.32
Mitsubishi UFJ 1.22
Siliconware 6.94
HSBC Holdings -1.06
Top 5 performers: pct change
Chalco 8.26
Siliconware 6.94
LG.Philips 6.17
KEPCO 5.80
Sony Corp. 5.47
Bottom 5 performers: pct change
Prana Biotech -8.34
Mitsui & Co. -6.11
James Hardie -5.73
NTT -4.50
Satyam -4.32
TOP ASIA EVENTS:
For more Asian company earnings, see
HONG KONG - Hong Kong Exchanges and Clearing Ltd
final results news briefing
- Hutchison Telecommunications International Ltd
final results news conference
AUSTRALIA - 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.