WELLINGTON, Jan 24 (Reuters) - Asian stocks are expected to
open modestly higher on Monday with sentiment boosted by a lift
in U.S. markets and optimism the euro zone's debt woes may be
receding.
Two of Wall Street's indexes -- the Dow and S&P 500 -- closed between 0.2 percent and 0.4 percent higher on Friday, bolstered by bellwether General Electric's stronger-than-expected earnings. But the tech-laden Nasdaq was dragged 0.6 percent lower by waning confidence in Google's outlook.
The S&P 500 index ended a seven-week run of gains, although many analysts see its uptrend continuing through the first half.
British shares rebounded 0.5 percent from previous day's sharp sell-off, led by Royal Bank of Scotland amid reports that the part-nationalised bank could leave the government's asset protection scheme early.
European shares closed 0.8 percent higher on gains for Spanish banks on reports the country plans a partial state takeover of the weakest savings banks.
Asian stocks listed on Wall Street fell 1.04 percent.
The euro posted broad based gains, including a two-month high against the U.S. dollar, on improved sentiment about the euro zone's fiscal woes. The euro also hit a five-week high against the yen holding above a key technical level of 112 yen, which is seen as a bullish signal. The greenback slipped 0.5 percent against the yen.
Japanese stocks, which fell 2.1 percent last week in their biggest weekly loss in three months, have fallen through technical support levels and may be vulnerable to further correction. However, Nikkei futures traded in Chicago 40 points above the last closing level in Osaka.
Australian stocks are likely to trade cautiously higher on the back of a firmer Wall St and better metal prices. Share price index futures are up 0.2 percent to 4,746, a 9.65 point discount to the close of the underlying S&P/ASX 200 index.
HEADLINES: > Obama speech may spur fight over budget cuts > U.S. $14.3 trillion debt limit looms closer > Judge says Bear Stearns investor case can proceed > Tough issues to test U.S.-China summit glow > Global markets uneasy over inflation ahead of Fed > President of crisis-hit Portugal re-elected > Telefonica, China Unicom deepen alliance > Korea won't tighten FX position controls in Jan
KEY INDEXES pct change
Bank of New York Asia ADR index -1.04
Dow Jones Industrial Average +0.41
Nasdaq Composite Index -0.55
Nikkei futures in Chicago 10,320
Nikkei futures in Osaka 10,280
TOP ASIA EVENTS:
For more Asian company earnings, see ASIA/EQTY
JAPAN - Bank of Japan two day policy meeting starts
HONG KONG - China Communications Construction Co Ltd
EGM
AUSTRALIA - Producer price index, fourth quarter
SINGAPORE - Keppel Land, fourth quarter results
(Reporting by Gyles Beckford)
((gyles.beckford@reuters.com; +64-4-4714234; Reuters Messaging: gyles.beckford.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 2011. 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.
Two of Wall Street's indexes -- the Dow and S&P 500 -- closed between 0.2 percent and 0.4 percent higher on Friday, bolstered by bellwether General Electric's stronger-than-expected earnings. But the tech-laden Nasdaq was dragged 0.6 percent lower by waning confidence in Google's outlook.
The S&P 500 index ended a seven-week run of gains, although many analysts see its uptrend continuing through the first half.
British shares rebounded 0.5 percent from previous day's sharp sell-off, led by Royal Bank of Scotland amid reports that the part-nationalised bank could leave the government's asset protection scheme early.
European shares closed 0.8 percent higher on gains for Spanish banks on reports the country plans a partial state takeover of the weakest savings banks.
Asian stocks listed on Wall Street fell 1.04 percent.
The euro posted broad based gains, including a two-month high against the U.S. dollar, on improved sentiment about the euro zone's fiscal woes. The euro also hit a five-week high against the yen holding above a key technical level of 112 yen, which is seen as a bullish signal. The greenback slipped 0.5 percent against the yen.
Japanese stocks, which fell 2.1 percent last week in their biggest weekly loss in three months, have fallen through technical support levels and may be vulnerable to further correction. However, Nikkei futures traded in Chicago 40 points above the last closing level in Osaka.
Australian stocks are likely to trade cautiously higher on the back of a firmer Wall St and better metal prices. Share price index futures are up 0.2 percent to 4,746, a 9.65 point discount to the close of the underlying S&P/ASX 200 index.
HEADLINES: > Obama speech may spur fight over budget cuts > U.S. $14.3 trillion debt limit looms closer > Judge says Bear Stearns investor case can proceed > Tough issues to test U.S.-China summit glow > Global markets uneasy over inflation ahead of Fed > President of crisis-hit Portugal re-elected > Telefonica, China Unicom deepen alliance > Korea won't tighten FX position controls in Jan
KEY INDEXES pct change
Bank of New York Asia ADR index -1.04
Dow Jones Industrial Average +0.41
Nasdaq Composite Index -0.55
Nikkei futures in Chicago 10,320
Nikkei futures in Osaka 10,280
TOP ASIA EVENTS:
For more Asian company earnings, see ASIA/EQTY
JAPAN - Bank of Japan two day policy meeting starts
HONG KONG - China Communications Construction Co Ltd
EGM
AUSTRALIA - Producer price index, fourth quarter
SINGAPORE - Keppel Land, fourth quarter results
(Reporting by Gyles Beckford)
((gyles.beckford@reuters.com; +64-4-4714234; Reuters Messaging: gyles.beckford.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 2011. 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.