WELLINGTON, March 17 (Reuters) - Asian stocks are set to gain
on Wednesday after the Federal Reserve held interest rates near
zero and pledged to keep them there, lifting U.S. stocks to a
17
month closing high.
Wall Street's main indices gained as much as 0.8 percent, with rumours chipmaker Intel will beat its current quarter sales estimates also helping sentiment.
The central bank acknowledged the U.S. economy was gaining momentum, the Fed pledged to keep borrowing costs low to support the recovery.
Asian stocks listed on Wall Street rose 1 percent, while MSCI's measure of Asia Pacific stocks excluding Japan was 0.4 percent higher.
British and European shares rose by as much as 1 percent on news that EU ministers backed a plan to help debt-stricken Greece, while ratings agency Standard and Poor's said Greece was no longer under threat of a downgrade after recent moves to cut its deficit.
Japan's benchmark Nikkei is seen opening higher, with Nikkei futures traded in Chicago closing at 10,785, 115 points above the Osaka close.
The Fed's statement saw the U.S. dollar weaken against the yen and the euro, with downbeat comments on the U.S. housing and employment sectors adding to the bearish tone.
Australian shares are seen opening stronger, with share price index futures up 35 points to 4,840, a 42.8 point premium to the underlying S&P/ASX 200 index close on Tuesday.
HEADLINES: > Fed renews 'extended period' low-rate vow > US Senate bill would penalize China over yuan > Wall St hits fresh 17-month high after Fed > ADRs lifted by energy stocks > Bad weather depresses U.S. housing starts in Feb > CF surprised Terra deal took so long > GE sees profit, dividend up in 2011, shares climb > US Senate panel seen approving financial reform > Oil jumps 2.4 pct on weak dollar as OPEC gathers > Greece avoids S&P downgrade but risks remain > Astellas proposes slate to OSI board in bid effort > Steelmakers may switch to quarterly pricing-Nikkei > Honda to recall 412,000 vehicles in US for brakes > Sony in new music deal with Michael Jackson estate > China steel assn: opposes 80-90% ore price hike > Arrow talks may prompt higher Shell/PetroChina bid
KEY INDEXES pct change
Bank of New York Asia ADR index +0.98
Dow Jones Industrial Average +0.41
Nasdaq Composite Index +0.67
MSCI Asia Pacific ex-Japan +0.43
Nikkei futures in Chicago 10,785
Nikkei futures in Osaka 10,670
TOP ASIA EVENTS:
For more Asian company earnings, see
JAPAN - Bank of Japan two-day policy review concludes,
briefing with Governor Shirakawa
AUSTRALIA - David Jones H1 results
- Q4 dwelling units data
HONG KONG - Li Ning Co Ltd final results
- New World Development Co Ltd final
results
- Tencent Holdings Ltd final results
TAIWAN - Shin Kong Financial investor conference
STH KOREA - February unemployment rate
(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.
17
month closing high.
Wall Street's main indices gained as much as 0.8 percent, with rumours chipmaker Intel will beat its current quarter sales estimates also helping sentiment.
The central bank acknowledged the U.S. economy was gaining momentum, the Fed pledged to keep borrowing costs low to support the recovery.
Asian stocks listed on Wall Street rose 1 percent, while MSCI's measure of Asia Pacific stocks excluding Japan was 0.4 percent higher.
British and European shares rose by as much as 1 percent on news that EU ministers backed a plan to help debt-stricken Greece, while ratings agency Standard and Poor's said Greece was no longer under threat of a downgrade after recent moves to cut its deficit.
Japan's benchmark Nikkei is seen opening higher, with Nikkei futures traded in Chicago closing at 10,785, 115 points above the Osaka close.
The Fed's statement saw the U.S. dollar weaken against the yen and the euro, with downbeat comments on the U.S. housing and employment sectors adding to the bearish tone.
Australian shares are seen opening stronger, with share price index futures up 35 points to 4,840, a 42.8 point premium to the underlying S&P/ASX 200 index close on Tuesday.
HEADLINES: > Fed renews 'extended period' low-rate vow > US Senate bill would penalize China over yuan > Wall St hits fresh 17-month high after Fed > ADRs lifted by energy stocks > Bad weather depresses U.S. housing starts in Feb > CF surprised Terra deal took so long > GE sees profit, dividend up in 2011, shares climb > US Senate panel seen approving financial reform > Oil jumps 2.4 pct on weak dollar as OPEC gathers > Greece avoids S&P downgrade but risks remain > Astellas proposes slate to OSI board in bid effort > Steelmakers may switch to quarterly pricing-Nikkei > Honda to recall 412,000 vehicles in US for brakes > Sony in new music deal with Michael Jackson estate > China steel assn: opposes 80-90% ore price hike > Arrow talks may prompt higher Shell/PetroChina bid
KEY INDEXES pct change
Bank of New York Asia ADR index +0.98
Dow Jones Industrial Average +0.41
Nasdaq Composite Index +0.67
MSCI Asia Pacific ex-Japan +0.43
Nikkei futures in Chicago 10,785
Nikkei futures in Osaka 10,670
TOP ASIA EVENTS:
For more Asian company earnings, see
JAPAN - Bank of Japan two-day policy review concludes,
briefing with Governor Shirakawa
AUSTRALIA - David Jones H1 results
- Q4 dwelling units data
HONG KONG - Li Ning Co Ltd final results
- New World Development Co Ltd final
results
- Tencent Holdings Ltd final results
TAIWAN - Shin Kong Financial investor conference
STH KOREA - February unemployment rate
(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.