WELLINGTON, Dec 13 (Reuters) - Asian stocks are set for a cautious advance
on Monday as markets digest China's latest move to cap inflation and mop up
excess cash in the economy.
Late on Friday China increased the reserve requirements for banks for the third time in a month, although the move was welcomed as a milder form of monetary tightening for its booming economy. For details see
The main Wall Street indices posted steady gains of between 0.4 percent and 0.8 percent on Friday, with the S&P 500 nudging its highest level since Lehman Brothers collapsed in September 2008 and the tech-heavy Nasdaq hitting a three-year high.
Economic bellwether General Electric led the gains after its raised its dividend payment for the second time this year, sending the industrial index up 1 percent.
Positive data supported the gains, with consumer sentiment up, while the trade deficit narrowed.
Asian stocks listed on Wall Street rose 0.1 percent
British shares gained 0.1 percent while European shares rose 0.2 percent on strong commodity prices and the firm U.S. consumer sentiment.
The euro slipped against the U.S. dollar and is expected to keep falling as European Union leaders meet to discuss the sovereign debt crisis. The yen was slightly weaker against the greenback.
Japanese markets are expecting a mildly positive start, with Nikkei futures traded in Chicago 45 points above the last closing level in Osaka. Analysts have said technical signs the market is overbought and the approach of the end of year will likely crimp activity.
Australian stocks are also likely to open higher with share price index futures rising 12 points to 4,771, a 25 point premium to the close of the underlying S&P/ASX 200 index.
HEADLINES: > China to quell inflation, keep economy humming > Saudi still favors $70-$80 oil, OPEC holds supply > Sentiment, trade data signal firmer U.S. recovery > Hold the bubbly for another week > ANALYSIS-Climate talks: 18 years, too little actio > Don't bet against euro -German finance minister > EADS backs Airbus sales chief in insider probe > Nissan deliver 1st electric car in challenge to GM > Hochtief CEO will talk to ACS -paper > Obama calls in Clinton to help with tax fight
KEY INDEXES pct change
Bank of New York Asia ADR index +0.10
Dow Jones Industrial Average +0.35
Nasdaq Composite Index +0.80
Nikkei futures in Chicago 10,255
Nikkei futures in Osaka 10,210
TOP ASIA EVENTS:
For more Asian company earnings, see ASIA/EQTY
HONG KONG - Quarterly index of industrial production
- China New Materials Holdings Ltd trading debut
STH KOREA - Ministry of Strategy and Finance to announce policy
direction for 2011
AUSTRALIA - Westfield retail arm floats
(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.
Late on Friday China increased the reserve requirements for banks for the third time in a month, although the move was welcomed as a milder form of monetary tightening for its booming economy. For details see
The main Wall Street indices posted steady gains of between 0.4 percent and 0.8 percent on Friday, with the S&P 500 nudging its highest level since Lehman Brothers collapsed in September 2008 and the tech-heavy Nasdaq hitting a three-year high.
Economic bellwether General Electric led the gains after its raised its dividend payment for the second time this year, sending the industrial index up 1 percent.
Positive data supported the gains, with consumer sentiment up, while the trade deficit narrowed.
Asian stocks listed on Wall Street rose 0.1 percent
British shares gained 0.1 percent while European shares rose 0.2 percent on strong commodity prices and the firm U.S. consumer sentiment.
The euro slipped against the U.S. dollar and is expected to keep falling as European Union leaders meet to discuss the sovereign debt crisis. The yen was slightly weaker against the greenback.
Japanese markets are expecting a mildly positive start, with Nikkei futures traded in Chicago 45 points above the last closing level in Osaka. Analysts have said technical signs the market is overbought and the approach of the end of year will likely crimp activity.
Australian stocks are also likely to open higher with share price index futures rising 12 points to 4,771, a 25 point premium to the close of the underlying S&P/ASX 200 index.
HEADLINES: > China to quell inflation, keep economy humming > Saudi still favors $70-$80 oil, OPEC holds supply > Sentiment, trade data signal firmer U.S. recovery > Hold the bubbly for another week > ANALYSIS-Climate talks: 18 years, too little actio > Don't bet against euro -German finance minister > EADS backs Airbus sales chief in insider probe > Nissan deliver 1st electric car in challenge to GM > Hochtief CEO will talk to ACS -paper > Obama calls in Clinton to help with tax fight
KEY INDEXES pct change
Bank of New York Asia ADR index +0.10
Dow Jones Industrial Average +0.35
Nasdaq Composite Index +0.80
Nikkei futures in Chicago 10,255
Nikkei futures in Osaka 10,210
TOP ASIA EVENTS:
For more Asian company earnings, see ASIA/EQTY
HONG KONG - Quarterly index of industrial production
- China New Materials Holdings Ltd trading debut
STH KOREA - Ministry of Strategy and Finance to announce policy
direction for 2011
AUSTRALIA - Westfield retail arm floats
(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.