TOKYO, Nov 30 (Reuters) - Asian stocks were set to lose
ground on Monday after fresh worries about the global financial
system set off by a possible Dubai debt default sent U.S. stocks
down more than 1 percent.
But signals were mixed on how long the flight to less risky assets might last, with U.S. shares easing back up off their lows by the end of a truncated trading day on Friday as some market players said the Dubai news had coincided with the desire of investors to take profits as the year end approaches.
Asian stocks listed on Wall Street fell 2.6 percent, while MSCI's measure of Asia Pacific stocks excluding Japan lost 3.5 percent.
The Dow Jones industrial average fell 1.5 percent. The S&P 500 lost 1.7 percent, as did the Nasdaq.
Financial markets around the world shuddered last week after Dubai said it would ask creditors of state-owned Dubai World and Nakheel, the builder of its palm-shaped islands, for a standstill agreement as a first step toward restructuring billions of dollars of debt..
The dollar rose against the euro and a basket of currencies on Friday while the yen retreated from a 14-year high against the greenback. In early trade, the dollar had edged up 0.1 percent to 86.64 yen.
Nikkei futures traded in Chicago closed at 9,220, up 1.7 percent from the Osaka close.
Markets in the Philippines will be closed for a holiday.
HEADLINES: > UAE moves to counter Dubai fallout, markets wary > Iran to build 10 uranium plants, defying U.N. > Despite momentum, no smooth path to climate deal > Hondurans vote for new president after June coup > U.S. faces bid deadline on more ethanol in fuel > Commods plunge on Dubai crisis but end off lows > Appetite for commodities rises among Swiss banks
KEY INDEXES pct change
Bank of New York Asia ADR index -2.58
Dow Jones Industrial Average -1.48
Nasdaq Composite Index -1.73
MSCI Asia Pacific ex-Japan -3.50
Nikkei futures in Chicago 9,220
Nikkei futures in Osaka 9,070
TOP ASIA EVENTS:
For more Asian company earnings, see
JAPAN - October industrial output
- BOJ governor news conference
S.KOREA - Industrial output
HONG KONG - Monetary statistics for October
(Reporting by Elaine Lies)
((elaine.lies@thomsonreuters.com; +81 3 6441 1807; Reuters Messaging:elaine.lies.reuters.com@reuters.net)) 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 (If you have a query or comment on this story send an email to news.feedback.asia@thomsonreuters.com) 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.
But signals were mixed on how long the flight to less risky assets might last, with U.S. shares easing back up off their lows by the end of a truncated trading day on Friday as some market players said the Dubai news had coincided with the desire of investors to take profits as the year end approaches.
Asian stocks listed on Wall Street fell 2.6 percent, while MSCI's measure of Asia Pacific stocks excluding Japan lost 3.5 percent.
The Dow Jones industrial average fell 1.5 percent. The S&P 500 lost 1.7 percent, as did the Nasdaq.
Financial markets around the world shuddered last week after Dubai said it would ask creditors of state-owned Dubai World and Nakheel, the builder of its palm-shaped islands, for a standstill agreement as a first step toward restructuring billions of dollars of debt..
The dollar rose against the euro and a basket of currencies on Friday while the yen retreated from a 14-year high against the greenback. In early trade, the dollar had edged up 0.1 percent to 86.64 yen.
Nikkei futures traded in Chicago closed at 9,220, up 1.7 percent from the Osaka close.
Markets in the Philippines will be closed for a holiday.
HEADLINES: > UAE moves to counter Dubai fallout, markets wary > Iran to build 10 uranium plants, defying U.N. > Despite momentum, no smooth path to climate deal > Hondurans vote for new president after June coup > U.S. faces bid deadline on more ethanol in fuel > Commods plunge on Dubai crisis but end off lows > Appetite for commodities rises among Swiss banks
KEY INDEXES pct change
Bank of New York Asia ADR index -2.58
Dow Jones Industrial Average -1.48
Nasdaq Composite Index -1.73
MSCI Asia Pacific ex-Japan -3.50
Nikkei futures in Chicago 9,220
Nikkei futures in Osaka 9,070
TOP ASIA EVENTS:
For more Asian company earnings, see
JAPAN - October industrial output
- BOJ governor news conference
S.KOREA - Industrial output
HONG KONG - Monetary statistics for October
(Reporting by Elaine Lies)
((elaine.lies@thomsonreuters.com; +81 3 6441 1807; Reuters Messaging:elaine.lies.reuters.com@reuters.net)) 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 (If you have a query or comment on this story send an email to news.feedback.asia@thomsonreuters.com) 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.