WELLINGTON, March 8 (Reuters) - Asian stocks will likely
slip on Tuesday as ongoing violence in Libya pushed oil prices
higher, raising fears global growth may be derailed.
The main Wall Street indices fell between 0.7 percent and 1.4 percent, with the uncertainty sparked by violence in the Middle East expected to keep volatility high in the short term.
The CBOE Volatility Index VIX, Wall Street's so-called fear gauge, rose 8.4 percent to 20.66 as Libya's leader Muammar Gaddafi struck back against rebels, amid reports a million people need humanitarian aid.
U.S. crude futures for April delivery rose to their highest since September 2008 as fears grew about supply disruptions in the Middle East, with the potential impact on the global economy stoking bearish sentiment towards equities.
Technology shares were the hardest hit, with the Nasdaq close to a crucial support level, after the semiconductor sector was downgraded by Wells Fargo to 'market weight' from 'overweight' after recent strong gains and the approach of a seasonal slowdown.
Asian stocks listed on Wall Street fell 1.42 percent.
British shares fell 0.3 percent and European shares slipped 0.4 percent, with heavyweight sectors such as banks and miners hit as investors trimmed exposure to growth-sensitive assets.
The euro paused in its recent gains against the U.S. dollar as sovereign debt concerns re-emerged in the wake of Moody's slashing Greece's credit rating.
Japanese markets will likely extend Monday's slide, which saw the benchmark index fall through a key support level, with Nikkei futures traded in Chicago 80 points below the last closing level in Osaka.
The Nikkei's new technical support level is seen at its
13
week moving average at 10,441.
Australian stocks are also set to start lower, with share price index futures down 23 points to 4,767, a 30.9 point discount to the underlying S&P/ASX 200 index.
HEADLINES: > Brokers probed for entertaining US rating firms > Brent slips, premium to rising U.S. oil drops > US lifts stay on Guantanamo charges in major shift > Central banks point to more acute price risks > Icahn explores sale of Federal-Mogul-sources > Moody's downgrade tips Greece closer to brink > Hedge funds make fresh commodity bet: plastics > IMF's Lipsky warns of emerging markets overheating > Steve Schwarzman still has a step on Henry Kravis > LVMH bags jeweller Bulgari in 3.7 bln euro deal > Would Glencore IPO herald end of commodity boom? > Western Digital-Hitachi storage deal creates titan > Big Human Genome lupus drug nears U.S. market
KEY INDEXES pct change
Bank of New York Asia ADR index -1.42
Dow Jones Industrial Average -0.66
Nasdaq Composite Index -1.40
Nikkei futures in Chicago 10,450
Nikkei futures in Osaka 10,530
TOP ASIA EVENTS:
For more Asian company earnings, see ASIA/EQTY
JAPAN - Current account balance for January
- Bank lending, money supply for Feb
HONG KONG - CL Group (Holdings) Ltd listing by way
of placing
- Want Want China Holdings Ltd final
results
- China Oilfield Services Ltd meeting
AUSTRALIA - NAB business conditions/confidence surveys
(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 fell between 0.7 percent and 1.4 percent, with the uncertainty sparked by violence in the Middle East expected to keep volatility high in the short term.
The CBOE Volatility Index VIX, Wall Street's so-called fear gauge, rose 8.4 percent to 20.66 as Libya's leader Muammar Gaddafi struck back against rebels, amid reports a million people need humanitarian aid.
U.S. crude futures for April delivery rose to their highest since September 2008 as fears grew about supply disruptions in the Middle East, with the potential impact on the global economy stoking bearish sentiment towards equities.
Technology shares were the hardest hit, with the Nasdaq close to a crucial support level, after the semiconductor sector was downgraded by Wells Fargo to 'market weight' from 'overweight' after recent strong gains and the approach of a seasonal slowdown.
Asian stocks listed on Wall Street fell 1.42 percent.
British shares fell 0.3 percent and European shares slipped 0.4 percent, with heavyweight sectors such as banks and miners hit as investors trimmed exposure to growth-sensitive assets.
The euro paused in its recent gains against the U.S. dollar as sovereign debt concerns re-emerged in the wake of Moody's slashing Greece's credit rating.
Japanese markets will likely extend Monday's slide, which saw the benchmark index fall through a key support level, with Nikkei futures traded in Chicago 80 points below the last closing level in Osaka.
The Nikkei's new technical support level is seen at its
13
week moving average at 10,441.
Australian stocks are also set to start lower, with share price index futures down 23 points to 4,767, a 30.9 point discount to the underlying S&P/ASX 200 index.
HEADLINES: > Brokers probed for entertaining US rating firms > Brent slips, premium to rising U.S. oil drops > US lifts stay on Guantanamo charges in major shift > Central banks point to more acute price risks > Icahn explores sale of Federal-Mogul-sources > Moody's downgrade tips Greece closer to brink > Hedge funds make fresh commodity bet: plastics > IMF's Lipsky warns of emerging markets overheating > Steve Schwarzman still has a step on Henry Kravis > LVMH bags jeweller Bulgari in 3.7 bln euro deal > Would Glencore IPO herald end of commodity boom? > Western Digital-Hitachi storage deal creates titan > Big Human Genome lupus drug nears U.S. market
KEY INDEXES pct change
Bank of New York Asia ADR index -1.42
Dow Jones Industrial Average -0.66
Nasdaq Composite Index -1.40
Nikkei futures in Chicago 10,450
Nikkei futures in Osaka 10,530
TOP ASIA EVENTS:
For more Asian company earnings, see ASIA/EQTY
JAPAN - Current account balance for January
- Bank lending, money supply for Feb
HONG KONG - CL Group (Holdings) Ltd listing by way
of placing
- Want Want China Holdings Ltd final
results
- China Oilfield Services Ltd meeting
AUSTRALIA - NAB business conditions/confidence surveys
(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.