WELLINGTON, Feb 8 (Reuters) - Asian stocks are set to
struggle on Monday, as concerns over the fiscal health of some
euro zone countries continue to plague equity markets.
Wall Street reversed early losses to finish slightly higher on Friday, as bargain hunting lifted beaten-down stocks. The tech-heavy Nasdaq was the best performer, up 0.7 percent.
The closely-watched U.S. non-farm payrolls report was mixed, with employers unexpectedly cutting 20,000 jobs in January, but the unemployment rate dropping to a five-month low of 9.7 percent.
British and European shares fell as much as 1.9 percent, as investors sold euro-based assets on the back of sovereign debt concerns in Greece, Portugal and Spain, as well as disappointing earnings reports.
The yen and the U.S. dollar both gained on the demand for safer assets, with the greenback reaching an 8-½ month high against the euro
Japan's Nikkei average is seen falling, with Nikkei futures trading in Chicago 65 points lower than the Osaka close.
Australian shares are also seen softer, with share index futures at 4,464, a 50-point discount to the underlying index's close on Friday, with resources stocks likely to be under pressure from weaker metal prices.
HEADLINES: > Stocks cut losses, close up with techs, materials > Wall St Week Ahead: Recovery, debt woes to hound > ADRs fall on sovereign debt concerns, fall in oil > US jobless rate hits 5-month low but payrolls fall > Air Products bids $5.1 billion for rival Airgas > Apologetic Toyota looking to outside quality input > G7 reassures on Greece, talks tough on banks > US's Geithner-No double-dip slump but recovery slo > Goldman's payment demands on AIG probed-NYT > AMP to consider position on AXA Asia Pacific
KEY INDEXES pct change
Bank of New York Asia ADR index +0.09
Dow Jones Industrial Average +0.10
Nasdaq Composite Index +0.74
MSCI Asia Pacific ex-Japan -3.55
Nikkei futures in Chicago 9,995
Nikkei futures in Osaka 10,060
TOP ASIA EVENTS:
For more Asian company earnings, see
JAPAN - Bank lending, money stock data for January
- December current account
AUSTRALIA - JB Hi-Fi Q2 sales data
TAIWAN - January imports/exports data
(Reporting by Adrian Bathgate)
((adrian.bathgate@reuters.com; +64-4-4714233; Reuters Messaging: adrian.bathgate.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 2010. 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.
Wall Street reversed early losses to finish slightly higher on Friday, as bargain hunting lifted beaten-down stocks. The tech-heavy Nasdaq was the best performer, up 0.7 percent.
The closely-watched U.S. non-farm payrolls report was mixed, with employers unexpectedly cutting 20,000 jobs in January, but the unemployment rate dropping to a five-month low of 9.7 percent.
British and European shares fell as much as 1.9 percent, as investors sold euro-based assets on the back of sovereign debt concerns in Greece, Portugal and Spain, as well as disappointing earnings reports.
The yen and the U.S. dollar both gained on the demand for safer assets, with the greenback reaching an 8-½ month high against the euro
Japan's Nikkei average is seen falling, with Nikkei futures trading in Chicago 65 points lower than the Osaka close.
Australian shares are also seen softer, with share index futures at 4,464, a 50-point discount to the underlying index's close on Friday, with resources stocks likely to be under pressure from weaker metal prices.
HEADLINES: > Stocks cut losses, close up with techs, materials > Wall St Week Ahead: Recovery, debt woes to hound > ADRs fall on sovereign debt concerns, fall in oil > US jobless rate hits 5-month low but payrolls fall > Air Products bids $5.1 billion for rival Airgas > Apologetic Toyota looking to outside quality input > G7 reassures on Greece, talks tough on banks > US's Geithner-No double-dip slump but recovery slo > Goldman's payment demands on AIG probed-NYT > AMP to consider position on AXA Asia Pacific
KEY INDEXES pct change
Bank of New York Asia ADR index +0.09
Dow Jones Industrial Average +0.10
Nasdaq Composite Index +0.74
MSCI Asia Pacific ex-Japan -3.55
Nikkei futures in Chicago 9,995
Nikkei futures in Osaka 10,060
TOP ASIA EVENTS:
For more Asian company earnings, see
JAPAN - Bank lending, money stock data for January
- December current account
AUSTRALIA - JB Hi-Fi Q2 sales data
TAIWAN - January imports/exports data
(Reporting by Adrian Bathgate)
((adrian.bathgate@reuters.com; +64-4-4714233; Reuters Messaging: adrian.bathgate.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 2010. 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.