TOKYO, Dec 1 (Reuters) - Asian stocks are likely to hang onto
their gains on Tuesday after Wall Street edged higher, buoyed by
hopes that Dubai's debt woes will be contained.
But market sentiment remains fragile, amid signs of weak retail sales in the key U.S. shopping period after Thanksgiving.
U.S. bank shares climbed as investors bet that the sector's exposure to Dubai's debt problems would be limited, with an index of bank stocks rising more than 3 percent.
Retail shares limited the advance as investors worried that the holiday shopping season may have gotten off to a tepid start, underscoring concerns about the economy, though data also showed that manufacturing and business activity in parts of the United States gathered steam in November.
Asian stocks listed on Wall Street rose 1.4 percent, while MSCI's measure of Asia Pacific stocks excluding Japan rose 2.6 percent. Asian markets had rebounded strongly on Monday as Dubai's debt scares began to ease.
Nikkei futures traded in Chicago closed at 9,245, down 0.9 percent from the Osaka close, with the yen trading stronger against the U.S. dollar.
The dollar also slipped against the euro, while oil prices rose more than $1 on Monday on a weaker dollar and the detention of five Britons in Iran.
HEADLINES: > US regional manufacturing expands; jobs weak > Wall St ends up as banks lead late rebound > Freer trade viewed as economic remedy at WTO > Dubai says not responsible for Dubai World debt > Dubai World reminder of recovery risks-OECD > Oil rises on Iran detaining Britons, weak dollar > Inflation back in euro zone but seen staying low > ECB's Trichet-Right order of exit challenging > Germany, France signal faster deficit cuts > BOJ hints at mkt support; gov't keeps up pressure
KEY INDEXES pct change
Bank of New York Asia ADR index +1.39
Dow Jones Industrial Average +0.34
Nasdaq Composite Index +0.29
MSCI Asia Pacific ex-Japan +2.64
Nikkei futures in Chicago 9,245
Nikkei futures in Osaka 9,330
TOP ASIA EVENTS:
For more Asian company earnings, see
JAPAN - Finance Minister Hirohisa Fujii news conference
- National Strategy Minister Naoto Kan news
conference
- Sumco Corp nine-month earnings
S.KOREA - Vice Finance Minister Hur Kyung-wook to speak
- November consumer price index
- November import and export data
HONG KONG - Easyknit Enterprises Hldgs H1
- Emperor Entertainment Hotel H1
AUSTRALIA - Reserve Bank of Australia policy board meeting
(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 market sentiment remains fragile, amid signs of weak retail sales in the key U.S. shopping period after Thanksgiving.
U.S. bank shares climbed as investors bet that the sector's exposure to Dubai's debt problems would be limited, with an index of bank stocks rising more than 3 percent.
Retail shares limited the advance as investors worried that the holiday shopping season may have gotten off to a tepid start, underscoring concerns about the economy, though data also showed that manufacturing and business activity in parts of the United States gathered steam in November.
Asian stocks listed on Wall Street rose 1.4 percent, while MSCI's measure of Asia Pacific stocks excluding Japan rose 2.6 percent. Asian markets had rebounded strongly on Monday as Dubai's debt scares began to ease.
Nikkei futures traded in Chicago closed at 9,245, down 0.9 percent from the Osaka close, with the yen trading stronger against the U.S. dollar.
The dollar also slipped against the euro, while oil prices rose more than $1 on Monday on a weaker dollar and the detention of five Britons in Iran.
HEADLINES: > US regional manufacturing expands; jobs weak > Wall St ends up as banks lead late rebound > Freer trade viewed as economic remedy at WTO > Dubai says not responsible for Dubai World debt > Dubai World reminder of recovery risks-OECD > Oil rises on Iran detaining Britons, weak dollar > Inflation back in euro zone but seen staying low > ECB's Trichet-Right order of exit challenging > Germany, France signal faster deficit cuts > BOJ hints at mkt support; gov't keeps up pressure
KEY INDEXES pct change
Bank of New York Asia ADR index +1.39
Dow Jones Industrial Average +0.34
Nasdaq Composite Index +0.29
MSCI Asia Pacific ex-Japan +2.64
Nikkei futures in Chicago 9,245
Nikkei futures in Osaka 9,330
TOP ASIA EVENTS:
For more Asian company earnings, see
JAPAN - Finance Minister Hirohisa Fujii news conference
- National Strategy Minister Naoto Kan news
conference
- Sumco Corp nine-month earnings
S.KOREA - Vice Finance Minister Hur Kyung-wook to speak
- November consumer price index
- November import and export data
HONG KONG - Easyknit Enterprises Hldgs H1
- Emperor Entertainment Hotel H1
AUSTRALIA - Reserve Bank of Australia policy board meeting
(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.