WELLINGTON, Jan 25 (Reuters) - Asian stocks will likely gain
on Tuesday, as confidence in global growth prospects pushed
equity and commodity markets higher.
The main Wall Street indices rose between 0.6 percent and 1 percent, led by technology and resources stocks, with technical indicators suggesting the market will continue to rally, on the back of a generally strong earnings season.
Resources stocks gained more than 1 percent as base metal prices rose on supply fears.
Technology shares gained after giant Intel Corp raised its dividend and announced a share buyback.
British shares gained 0.8 percent while European shares added 0.3 percent, with miners and drugmakers more than offsetting weakness in banks.
Asian stocks listed on Wall Street gained 1.15 percent.
The euro consolidated after touching a two-month high against the U.S. dollar on growing confidence the region's debt problems were under control.
Japanese markets are set to start higher, helped by a slightly weaker yen, after bargain hunting helped the market break a three day losing streak on Monday.
However the Nikkei still hovering below its 25-day moving average, a sign the market is still fragile. Nikkei futures traded in Chicago were 75 points above the last closing level in Osaka.
Investors will also be keeping an eye on the outcome of the Bank of Japan's two-day policy meeting later on Tuesday.
Australian stocks are set for a flat start despite the higher metal prices, with share price index futures up 9 points to 4,779, a 7 point discount to the close of the underlying S&P/ASX 200 index.
HEADLINES: > Sarkozy targets commodities in G20 agenda > Cocoa soars on Ivorian export ban,Cargill complies > American Express 4th-qtr revenue rises 13 pct > U.S. spending battle looms over Obama speech > Euro at 2-month high, growth bets lift stocks > Euro zone PMIs indicate rising inflation pressure > Latam exchanges can punch above their weight > Largecap tech shares, materials boost Wall Street > ECB's Trichet rejects using core inflation > IMF sees global growth in 2011 just under 4.75 pct > Fate of Vale, Petrobras CEOs hinges on politics > Big Oil could unlock big value by ditching dogma > Japan PM seeks tax reform as budget battle looms
KEY INDEXES pct change
Bank of New York Asia ADR index +1.15
Dow Jones Industrial Average +0.92
Nasdaq Composite Index +1.04
Nikkei futures in Chicago 10,415
Nikkei futures in Osaka 10,340
TOP ASIA EVENTS:
For more Asian company earnings, see ASIA/EQTY
JAPAN - Yahoo Japan Q3 results
HONG KONG - China Shipping Development Co Ltd
Meeting
- External trade, December
AUSTRALIA - Newcrest Mining Q2 production report
- Consumer price index, fourth quarter
INDIA - Reserve Bank of India reviews quarterly monetary
policy
- Dr Reddy's Laboratories results
STH KOREA - POSCO shareholder's meeting
(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 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.
The main Wall Street indices rose between 0.6 percent and 1 percent, led by technology and resources stocks, with technical indicators suggesting the market will continue to rally, on the back of a generally strong earnings season.
Resources stocks gained more than 1 percent as base metal prices rose on supply fears.
Technology shares gained after giant Intel Corp raised its dividend and announced a share buyback.
British shares gained 0.8 percent while European shares added 0.3 percent, with miners and drugmakers more than offsetting weakness in banks.
Asian stocks listed on Wall Street gained 1.15 percent.
The euro consolidated after touching a two-month high against the U.S. dollar on growing confidence the region's debt problems were under control.
Japanese markets are set to start higher, helped by a slightly weaker yen, after bargain hunting helped the market break a three day losing streak on Monday.
However the Nikkei still hovering below its 25-day moving average, a sign the market is still fragile. Nikkei futures traded in Chicago were 75 points above the last closing level in Osaka.
Investors will also be keeping an eye on the outcome of the Bank of Japan's two-day policy meeting later on Tuesday.
Australian stocks are set for a flat start despite the higher metal prices, with share price index futures up 9 points to 4,779, a 7 point discount to the close of the underlying S&P/ASX 200 index.
HEADLINES: > Sarkozy targets commodities in G20 agenda > Cocoa soars on Ivorian export ban,Cargill complies > American Express 4th-qtr revenue rises 13 pct > U.S. spending battle looms over Obama speech > Euro at 2-month high, growth bets lift stocks > Euro zone PMIs indicate rising inflation pressure > Latam exchanges can punch above their weight > Largecap tech shares, materials boost Wall Street > ECB's Trichet rejects using core inflation > IMF sees global growth in 2011 just under 4.75 pct > Fate of Vale, Petrobras CEOs hinges on politics > Big Oil could unlock big value by ditching dogma > Japan PM seeks tax reform as budget battle looms
KEY INDEXES pct change
Bank of New York Asia ADR index +1.15
Dow Jones Industrial Average +0.92
Nasdaq Composite Index +1.04
Nikkei futures in Chicago 10,415
Nikkei futures in Osaka 10,340
TOP ASIA EVENTS:
For more Asian company earnings, see ASIA/EQTY
JAPAN - Yahoo Japan Q3 results
HONG KONG - China Shipping Development Co Ltd
Meeting
- External trade, December
AUSTRALIA - Newcrest Mining Q2 production report
- Consumer price index, fourth quarter
INDIA - Reserve Bank of India reviews quarterly monetary
policy
- Dr Reddy's Laboratories results
STH KOREA - POSCO shareholder's meeting
(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 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.