WELLINGTON, Feb 9 (Reuters) - Asian stocks are set for a
cautious start on Wednesday, as encouraging signs for the global
economy were dampened by another Chinese interest rate rise.
China moved for the second time in six weeks to rein in its surging inflation, sending commodity markets lower but most stock markets managed to shrug off fears over the impact on growth. For details, see
The main Wall Street indices ended between 0.4 percent and 0.6 percent higher, with stronger-than-expected sales from McDonald's Corp providing a burst of confidence in the economic recovery.
However, analysts said the light volumes suggested that investors do not expect the five-month rally to be sustained. See
The China hike weighed on trade early, with energy stocks falling on fears of reduced demand from the world's second largest consumer.
Asian stocks listed on Wall Street rose 0.8 percent.
British shares gained 0.7 percent on stronger banks and miners while European shares fell 0.2 percent from
29
month highs after China's rate rise.
The euro gained against the U.S. dollar, as risk sensitive currencies generally firmed on an easing in Egyptian tensions.
Japanese markets, which hit a nine-month high on Tuesday, are seen edging higher, with carmaker Toyota reporting better than expected earnings after the market closed. However, profit-taking pressures and China's rate rise may dampen sentiment.
Nikkei futures traded in Chicago 65 points above the last closing level in Osaka.
Australian stocks are set for a subdued start, with share price index futures up 14 points to 4,883, a 7.4 point discount to the close of the underlying S&P/ASX 200 index.
HEADLINES: > China raises rates to battle stubborn inflation > Commodity mkts rebound from drop on China rate hik > Ex-SAC Capital employees charged in trading probe > Brazil,Chile inflation speeds up;rate hikes likely > China audit raised Citi hackles - Wiki cable > Disney quarterly profit, revenue rise on ad sales > SPECIAL REPORT-The man who sold the sky > U.S. probe clears Toyota's electronic throttles > Egyptians stage big protest, dismiss power plan > Avon misses, another blemish for CEO to clean up > US could put its creditors first in line > UK hikes bank tax as crunch looms for lending deal
KEY INDEXES pct change
Bank of New York Asia ADR index +0.83
Dow Jones Industrial Average +0.59
Nasdaq Composite Index +0.47
Nikkei futures in Chicago 10,695
Nikkei futures in Osaka 10,630
TOP ASIA EVENTS:
For more Asian company earnings, see ASIA/EQTY
JAPAN - Consumer confidence for January
- Nissan Motor Co Q3 results
HONG KONG - Pan Asia Mining Ltd meeting
INDIA - Mahindra & Mahindra Q3 results
AUSTRALIA - Commonwealth Bank H1 results
- Boral Ltd H1 results
(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.
China moved for the second time in six weeks to rein in its surging inflation, sending commodity markets lower but most stock markets managed to shrug off fears over the impact on growth. For details, see
The main Wall Street indices ended between 0.4 percent and 0.6 percent higher, with stronger-than-expected sales from McDonald's Corp providing a burst of confidence in the economic recovery.
However, analysts said the light volumes suggested that investors do not expect the five-month rally to be sustained. See
The China hike weighed on trade early, with energy stocks falling on fears of reduced demand from the world's second largest consumer.
Asian stocks listed on Wall Street rose 0.8 percent.
British shares gained 0.7 percent on stronger banks and miners while European shares fell 0.2 percent from
29
month highs after China's rate rise.
The euro gained against the U.S. dollar, as risk sensitive currencies generally firmed on an easing in Egyptian tensions.
Japanese markets, which hit a nine-month high on Tuesday, are seen edging higher, with carmaker Toyota reporting better than expected earnings after the market closed. However, profit-taking pressures and China's rate rise may dampen sentiment.
Nikkei futures traded in Chicago 65 points above the last closing level in Osaka.
Australian stocks are set for a subdued start, with share price index futures up 14 points to 4,883, a 7.4 point discount to the close of the underlying S&P/ASX 200 index.
HEADLINES: > China raises rates to battle stubborn inflation > Commodity mkts rebound from drop on China rate hik > Ex-SAC Capital employees charged in trading probe > Brazil,Chile inflation speeds up;rate hikes likely > China audit raised Citi hackles - Wiki cable > Disney quarterly profit, revenue rise on ad sales > SPECIAL REPORT-The man who sold the sky > U.S. probe clears Toyota's electronic throttles > Egyptians stage big protest, dismiss power plan > Avon misses, another blemish for CEO to clean up > US could put its creditors first in line > UK hikes bank tax as crunch looms for lending deal
KEY INDEXES pct change
Bank of New York Asia ADR index +0.83
Dow Jones Industrial Average +0.59
Nasdaq Composite Index +0.47
Nikkei futures in Chicago 10,695
Nikkei futures in Osaka 10,630
TOP ASIA EVENTS:
For more Asian company earnings, see ASIA/EQTY
JAPAN - Consumer confidence for January
- Nissan Motor Co Q3 results
HONG KONG - Pan Asia Mining Ltd meeting
INDIA - Mahindra & Mahindra Q3 results
AUSTRALIA - Commonwealth Bank H1 results
- Boral Ltd H1 results
(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.