WELLINGTON, Nov 8 (Reuters) - Asian stocks are set to make a
steady start on Monday after U.S. stocks notched modest gains
despite some profit taking on stronger-than-expected jobs data.
The main Wall Street indexes rose between 0.1 and 0.4 percent, their fifth straight week of gains, but investors were seen booking profits after the strong run and starting to question how much longer the uptrend could continue.
A government jobs report suggested the sluggish recovery could be picking up steam. Non-farm payrolls rose a solid 151,000 in October, the first gain since May and more than double economists' expectations, which might bode well for future consumer spending. For details, see
Asian stocks listed on Wall Street rose 0.47 percent.
British shares rose 0.2 percent to their highest in 29 months on the back of strength in mining stocks and the U.S. jobs report, while European shares rose 0.4 percent.
The U.S. dollar strengthened on the jobs data, with analysts suggesting it could be at a turning point against the yen and euro but would likely remain weak against high-yield currencies.
Japanese stocks, which posted their best week in a year on the back of short-covering by foreign investors, are seen moving higher. Nikkei futures traded in Chicago 60 points above the last closing level in Osaka.
Investors will be watching the outcome of the Bank of Japan's two-day meeting and for any possible yen-selling intervention by Japanese authorities to weaken their currency.
Analysts expect next targets for the Nikkei to stand around 9,700, a high hit last month, and then around 9,800, a July peak.
Australian shares are also seen tracking higher, with share index futures 18 points higher at 4,829, a 28.4 point premium to the underlying S&P/ASX 200 index.
HEADLINES:
> Jump in US hiring lifts spirits on economy
> S&P 500 extends Wall Street rally to 5th week
> Obama: US can't afford two years of gridlock
> China, Germany belittle US actions before G20
> Bernanke defends Fed from global critics
> Global anger swells at Federal Reserve's actions
> BOJ holds fire after Fed, says easing an option
> Oil up at 2-yr peak on data; dollar curbs rise
> APEC ponders free trade area as frictions loom
KEY INDEXES pct change
Bank of New York Asia ADR index +0.47
Dow Jones Industrial Average +0.08
Nasdaq Composite Index +0.06
Nikkei futures in Chicago 9,710
Nikkei futures in Osaka 9,650
TOP ASIA EVENTS:
For more Asian company earnings, see ASIA/EQTY
JAPAN - Concluding APEC Senior Officials' meeting (CSOM)
& APEC Business Advisory Council (ABAC) meeting
- Leading and coincident indicators for September.
HONG KONG - Lee & Man Paper Manufacturing Ltd H1
results
- SJM Holdings Ltd Q3 results
AUSTRALIA - Orica full year results
(Reporting by Gyles Beckford)
((Wellington newsroom tel 64 4471 4234, fax +64 4 4736 212,
wellington.newsroom@reuters.com)) 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.
The main Wall Street indexes rose between 0.1 and 0.4 percent, their fifth straight week of gains, but investors were seen booking profits after the strong run and starting to question how much longer the uptrend could continue.
A government jobs report suggested the sluggish recovery could be picking up steam. Non-farm payrolls rose a solid 151,000 in October, the first gain since May and more than double economists' expectations, which might bode well for future consumer spending. For details, see
Asian stocks listed on Wall Street rose 0.47 percent.
British shares rose 0.2 percent to their highest in 29 months on the back of strength in mining stocks and the U.S. jobs report, while European shares rose 0.4 percent.
The U.S. dollar strengthened on the jobs data, with analysts suggesting it could be at a turning point against the yen and euro but would likely remain weak against high-yield currencies.
Japanese stocks, which posted their best week in a year on the back of short-covering by foreign investors, are seen moving higher. Nikkei futures traded in Chicago 60 points above the last closing level in Osaka.
Investors will be watching the outcome of the Bank of Japan's two-day meeting and for any possible yen-selling intervention by Japanese authorities to weaken their currency.
Analysts expect next targets for the Nikkei to stand around 9,700, a high hit last month, and then around 9,800, a July peak.
Australian shares are also seen tracking higher, with share index futures 18 points higher at 4,829, a 28.4 point premium to the underlying S&P/ASX 200 index.
HEADLINES:
> Jump in US hiring lifts spirits on economy
> S&P 500 extends Wall Street rally to 5th week
> Obama: US can't afford two years of gridlock
> China, Germany belittle US actions before G20
> Bernanke defends Fed from global critics
> Global anger swells at Federal Reserve's actions
> BOJ holds fire after Fed, says easing an option
> Oil up at 2-yr peak on data; dollar curbs rise
> APEC ponders free trade area as frictions loom
KEY INDEXES pct change
Bank of New York Asia ADR index +0.47
Dow Jones Industrial Average +0.08
Nasdaq Composite Index +0.06
Nikkei futures in Chicago 9,710
Nikkei futures in Osaka 9,650
TOP ASIA EVENTS:
For more Asian company earnings, see ASIA/EQTY
JAPAN - Concluding APEC Senior Officials' meeting (CSOM)
& APEC Business Advisory Council (ABAC) meeting
- Leading and coincident indicators for September.
HONG KONG - Lee & Man Paper Manufacturing Ltd H1
results
- SJM Holdings Ltd Q3 results
AUSTRALIA - Orica full year results
(Reporting by Gyles Beckford)
((Wellington newsroom tel 64 4471 4234, fax +64 4 4736 212,
wellington.newsroom@reuters.com)) 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.