WELLINGTON, Feb 15 (Reuters) - Asian stocks may start
slightly higher on Tuesday, as investors await inflation data
from China after upbeat trade figures from the world's second
largest economy had already buoyed sentiment.
The main Wall Street indices ranged between flat and 0.3 percent higher, but with low volume analysts suspect the market's rally has nearly run out of steam.
Commodity prices rose as copper prices shot to a record high after trade data on Monday showed China continued to demand raw materials at a strong pace.
Rumours that January inflation data, due later on Tuesday, will come in below expectations also lifted sentiment. The median forecast is for a rise to 5.3 pct, from 4.6 pct, but market rumours has been for a 4.9 pct outcome.
If the talk proves correct, it would lessen concerns that China will have to tighten more aggressively to contain inflation and thus risk a sharper economic slowdown.
Asian stocks listed on Wall Street rose 1.18 percent.
British shares eased 0.1 percent while European shares gained 0.3 percent, with weaker financial stocks balancing against stronger miners.
The euro fell to a three-week low against the U.S. dollar and was seen headed for further losses after a meeting of European finance ministers provided little clarity about a solution to the region's fiscal problems.
Japanese markets, which hit a nine-month high on Monday, are seen mildly firmer, with Nikkei futures traded in Chicago 25 points above the last closing level in Osaka, but will also be eyeing the Chinese inflation numbers.
Australian stocks are seen flat with share price index futures up 7 points to 4,925, a 10.8 point discount to the close of the underlying S&P/ASX 200 index.
HEADLINES: > Obama budget attacks U.S. deficit, fight looming > BM&FBovespa eyes China, India expansion > Starbucks, Green Mountain in talks-source > D.Boerse, NYSE dodge issues to seal deal outline > World stocks rise, copper hits record on China > U.S. hedge fund managers' top picks, pans > China may spur growth with Panama Canal rail idea > Ecuador court orders Chevron to pay $8 bln-lawyer > Fairholme leaders resign from St. Joe board > Iran opposition protests, agency reports shooting > Egypt's military eyes constitutional referendum > EU finmins agree 500 bln euro future rescue fund > Investors get picky in rare earth race
KEY INDEXES pct change
Bank of New York Asia ADR index +1.18
Dow Jones Industrial Average -0.04
Nasdaq Composite Index +0.28
Nikkei futures in Chicago 10,755
Nikkei futures in Osaka 10,730
TOP ASIA EVENTS:
For more Asian company earnings, see ASIA/EQTY
JAPAN - Revised industrial output for December
- Coca-Cola Japan briefs on 2011
beverage strategy
HONG KONG - Bank of East Asia final results
- Guoco Group Ltd H1 results
AUSTRALIA - Westpac Q1 update
- Foster's Group H1 results
- Brambles H1 results
- Reserve Bank of Australia minutes
(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 ranged between flat and 0.3 percent higher, but with low volume analysts suspect the market's rally has nearly run out of steam.
Commodity prices rose as copper prices shot to a record high after trade data on Monday showed China continued to demand raw materials at a strong pace.
Rumours that January inflation data, due later on Tuesday, will come in below expectations also lifted sentiment. The median forecast is for a rise to 5.3 pct, from 4.6 pct, but market rumours has been for a 4.9 pct outcome.
If the talk proves correct, it would lessen concerns that China will have to tighten more aggressively to contain inflation and thus risk a sharper economic slowdown.
Asian stocks listed on Wall Street rose 1.18 percent.
British shares eased 0.1 percent while European shares gained 0.3 percent, with weaker financial stocks balancing against stronger miners.
The euro fell to a three-week low against the U.S. dollar and was seen headed for further losses after a meeting of European finance ministers provided little clarity about a solution to the region's fiscal problems.
Japanese markets, which hit a nine-month high on Monday, are seen mildly firmer, with Nikkei futures traded in Chicago 25 points above the last closing level in Osaka, but will also be eyeing the Chinese inflation numbers.
Australian stocks are seen flat with share price index futures up 7 points to 4,925, a 10.8 point discount to the close of the underlying S&P/ASX 200 index.
HEADLINES: > Obama budget attacks U.S. deficit, fight looming > BM&FBovespa eyes China, India expansion > Starbucks, Green Mountain in talks-source > D.Boerse, NYSE dodge issues to seal deal outline > World stocks rise, copper hits record on China > U.S. hedge fund managers' top picks, pans > China may spur growth with Panama Canal rail idea > Ecuador court orders Chevron to pay $8 bln-lawyer > Fairholme leaders resign from St. Joe board > Iran opposition protests, agency reports shooting > Egypt's military eyes constitutional referendum > EU finmins agree 500 bln euro future rescue fund > Investors get picky in rare earth race
KEY INDEXES pct change
Bank of New York Asia ADR index +1.18
Dow Jones Industrial Average -0.04
Nasdaq Composite Index +0.28
Nikkei futures in Chicago 10,755
Nikkei futures in Osaka 10,730
TOP ASIA EVENTS:
For more Asian company earnings, see ASIA/EQTY
JAPAN - Revised industrial output for December
- Coca-Cola Japan briefs on 2011
beverage strategy
HONG KONG - Bank of East Asia final results
- Guoco Group Ltd H1 results
AUSTRALIA - Westpac Q1 update
- Foster's Group H1 results
- Brambles H1 results
- Reserve Bank of Australia minutes
(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.