WELLINGTON, Nov 25 (Reuters) - Asian stocks are set to open
higher on Thursday, as a solid session on global markets offsets
concerns over simmering tensions on the Korean peninsula and
Europe's debt woes.
Wall Street rallied overnight as investors focused on strong jobs data and signs consumers are ready to open their wallets ahead of Thanksgiving, the biggest shopping day of the year.
New claims for unemployment benefits hit their lowest level in more than two years last week while consumer spending rose for a fourth straight month in October, helping the Wall Street indexes to gains between 1.4 percent and 1.9 percent.
But global political tensions remained high as the United States sent an aircraft carrier to Korean waters after North Korea's shelling of a South Korean island, an event linked to leadership changes in the isolated state. For more see
Still, Asian stocks listed on Wall Street rose 1.9 percent, recovering sharp falls after the Korean military skirmish earlier this week.
And Japanese markets are also seen making a solid start, with Nikkei futures traded in Chicago rising 105 points above the last closing level in Osaka.
Australian shares could also follow Wall Street's lead, buoyed by stronger metal prices, with share index futures up 0.8 percent to 4,624, a 39.4 point premium to the underlying S&P/ASX 200 index.
European shares could also support Asian gains, despite Ireland's rating downgrade, as British shares rose 1.4 percent while European shares gained 1 percent after commodity sensitive stocks and banks recouped some losses from earlier in the week.
In contrast, the single currency tumbled on fears Ireland's debt woes would spread, with traders picking further losses to come. The euro hit a two-month low against the yen while the greenback was also stronger against the Japanese currency.
HEADLINES: > Ireland plans austerity, draws scepticism > Data hints US recovery is becoming self-sustaining > U.S. charges executive in hedge fund probe > Wall St ends higher on upbeat data > U.S. aircraft carrier heads for Korean waters > Crowded US parking lots hint at Black Friday sales > Portugal unions strike over austerity measures > EU needs to make investors share risk-Merkel > PBOC readies slower China money, loan growth > Tiffany sees gem of a holiday on luxury rebound > Oracle ruling tarnishes SAP's US reputation > Brazil's new economic team vows to cut spending
KEY INDEXES pct change
Bank of New York Asia ADR index +1.91
Dow Jones Industrial Average +1.37
Nasdaq Composite Index +1.93
Nikkei futures in Chicago 10,145
Nikkei futures in Osaka 10,040
TOP ASIA EVENTS:
For more Asian company earnings, see ASIA/EQTY
JAPAN - Trade data for October
- Otsuka Holdings to set price range of its planned
initial public offering
- Sony to make an announcement about its
e-reader
AUSTRALIA - National Australia Bank CEO speech
- Goodman Fielder annual meeting
HONG KONG - Kingworld Medicines Group Ltd
trading debut
- October 2010 external trade figures
STH KOREA - November consumer sentiment index, Bank of Korea
(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 rallied overnight as investors focused on strong jobs data and signs consumers are ready to open their wallets ahead of Thanksgiving, the biggest shopping day of the year.
New claims for unemployment benefits hit their lowest level in more than two years last week while consumer spending rose for a fourth straight month in October, helping the Wall Street indexes to gains between 1.4 percent and 1.9 percent.
But global political tensions remained high as the United States sent an aircraft carrier to Korean waters after North Korea's shelling of a South Korean island, an event linked to leadership changes in the isolated state. For more see
Still, Asian stocks listed on Wall Street rose 1.9 percent, recovering sharp falls after the Korean military skirmish earlier this week.
And Japanese markets are also seen making a solid start, with Nikkei futures traded in Chicago rising 105 points above the last closing level in Osaka.
Australian shares could also follow Wall Street's lead, buoyed by stronger metal prices, with share index futures up 0.8 percent to 4,624, a 39.4 point premium to the underlying S&P/ASX 200 index.
European shares could also support Asian gains, despite Ireland's rating downgrade, as British shares rose 1.4 percent while European shares gained 1 percent after commodity sensitive stocks and banks recouped some losses from earlier in the week.
In contrast, the single currency tumbled on fears Ireland's debt woes would spread, with traders picking further losses to come. The euro hit a two-month low against the yen while the greenback was also stronger against the Japanese currency.
HEADLINES: > Ireland plans austerity, draws scepticism > Data hints US recovery is becoming self-sustaining > U.S. charges executive in hedge fund probe > Wall St ends higher on upbeat data > U.S. aircraft carrier heads for Korean waters > Crowded US parking lots hint at Black Friday sales > Portugal unions strike over austerity measures > EU needs to make investors share risk-Merkel > PBOC readies slower China money, loan growth > Tiffany sees gem of a holiday on luxury rebound > Oracle ruling tarnishes SAP's US reputation > Brazil's new economic team vows to cut spending
KEY INDEXES pct change
Bank of New York Asia ADR index +1.91
Dow Jones Industrial Average +1.37
Nasdaq Composite Index +1.93
Nikkei futures in Chicago 10,145
Nikkei futures in Osaka 10,040
TOP ASIA EVENTS:
For more Asian company earnings, see ASIA/EQTY
JAPAN - Trade data for October
- Otsuka Holdings to set price range of its planned
initial public offering
- Sony to make an announcement about its
e-reader
AUSTRALIA - National Australia Bank CEO speech
- Goodman Fielder annual meeting
HONG KONG - Kingworld Medicines Group Ltd
trading debut
- October 2010 external trade figures
STH KOREA - November consumer sentiment index, Bank of Korea
(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.