WELLINGTON, March 22 (Reuters) - Asian stocks are set for a
cautious rally on Tuesday, as reports that Japanese authorities
were regaining control of a crippled nuclear plant and a solid
showing for U.S. stocks on merger and acquisition activity
lifted the appetite for risk
Sentiment will likely get a boost from billionaire investor Warren Buffet's comments that Japan will recover from the devastating earthquake and tsunami of March 11, with Japan representing a 'buying opportunity'.
After a week where international events dominated Wall Street, the biggest proposed merger so far this year captured attention and sent the main indices up at least 1.5 percent.
Phone company AT&T unveiled a $39 billion deal to buy Deutsche Telekom AG's T-Mobile USA, creating the biggest mobile operator in the U.S.
The market volatility index fell 16.2 percent, its biggest daily percentage drop in almost a year, to trade below its 14- and 200-day moving averages for the first time since the earthquake in Japan.
Asian stocks listed on Wall Street rose 1.89 percent.
British shares rose 1.2 percent while European shares gained 1.8 percent on the AT&T deal and hopes for a positive result in Japan's nuclear crisis.
Japanese markets will likely rise after being closed for a holiday on Monday, despite rising fears of radiation, as engineers managed to reconnect power to all six of the stricken reactors.
Nikkei futures last traded in Chicago 410 points above the last closing level in Osaka, and a 333 point premium to the close of the underlying index.
The U.S.-listed shares of Japanese companies rose more than 2.1 percent on Monday.
The market will be supported by a yen that continues to weaken U.S. dollar, although investors are seen likely to test the resolve of the G7 central banks to sell the Japanese currency in a bid to stabilise markets.
Oil prices continued to climb as unrest in the Middle East continued to spread, raising fears about disrupted supply. See
Australian stocks are seen posting a third straight day of gains, with share price index futures up 30 points to 4,694, a 51.2 point premium to the close of the underlying S&P/ASX 200 index.
HEADLINES: > Strikes on Libya set to slow, stalemate feared > Disasters show flaws in just-in-time production > Stocks rise on Japan and M&A, volatility slips > Radiation anxiety grows in disaster-struck Japan > Fuel storage, safety issues vexed Japan plant > U.S. home sales tumble, prices are near 9-year low > AT&T/T-Mobile expected to survive regulatory revw > Liberty to buy cable operator Kabel BW from EQT > Top Yemeni generals back democracy protesters > U.S. Republican Pawlenty takes election step > Rajaratnam trial hears Hilton takeover evidence > Tiffany outlook keeps luster despite Japan quake > Citi to resume dividend, sets reverse stock split > ECB warns on rates, euro zone seals deal on fund > Jury selection kicks off in Barry Bonds trial
KEY INDEXES pct change
Bank of New York Asia ADR index +1.89
Dow Jones Industrial Average +1.50
Nasdaq Composite Index +1.83
Nikkei futures in Chicago 9,540
Nikkei futures in Osaka 9,130
TOP ASIA EVENTS:
For more Asian company earnings, see ASIA/EQTY
HONG KONG - China Huiyuan Juice Group Ltd
final results news conference
- China Coal Energy Co Ltd final results
- China Life Insurance Co Ltd final
results
- China Oilfield Services Ltd final
results
- China Telecom Corporation Ltd final
results
- Datang International Power Generation Co Ltd
final results
- Guangzhou Automobile Group Co Ltd
final results
- PCCW Ltd final results news
conference
AUSTRALIA - Iron Ore conference, Perth
(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.
Sentiment will likely get a boost from billionaire investor Warren Buffet's comments that Japan will recover from the devastating earthquake and tsunami of March 11, with Japan representing a 'buying opportunity'.
After a week where international events dominated Wall Street, the biggest proposed merger so far this year captured attention and sent the main indices up at least 1.5 percent.
Phone company AT&T unveiled a $39 billion deal to buy Deutsche Telekom AG's T-Mobile USA, creating the biggest mobile operator in the U.S.
The market volatility index fell 16.2 percent, its biggest daily percentage drop in almost a year, to trade below its 14- and 200-day moving averages for the first time since the earthquake in Japan.
Asian stocks listed on Wall Street rose 1.89 percent.
British shares rose 1.2 percent while European shares gained 1.8 percent on the AT&T deal and hopes for a positive result in Japan's nuclear crisis.
Japanese markets will likely rise after being closed for a holiday on Monday, despite rising fears of radiation, as engineers managed to reconnect power to all six of the stricken reactors.
Nikkei futures last traded in Chicago 410 points above the last closing level in Osaka, and a 333 point premium to the close of the underlying index.
The U.S.-listed shares of Japanese companies rose more than 2.1 percent on Monday.
The market will be supported by a yen that continues to weaken U.S. dollar, although investors are seen likely to test the resolve of the G7 central banks to sell the Japanese currency in a bid to stabilise markets.
Oil prices continued to climb as unrest in the Middle East continued to spread, raising fears about disrupted supply. See
Australian stocks are seen posting a third straight day of gains, with share price index futures up 30 points to 4,694, a 51.2 point premium to the close of the underlying S&P/ASX 200 index.
HEADLINES: > Strikes on Libya set to slow, stalemate feared > Disasters show flaws in just-in-time production > Stocks rise on Japan and M&A, volatility slips > Radiation anxiety grows in disaster-struck Japan > Fuel storage, safety issues vexed Japan plant > U.S. home sales tumble, prices are near 9-year low > AT&T/T-Mobile expected to survive regulatory revw > Liberty to buy cable operator Kabel BW from EQT > Top Yemeni generals back democracy protesters > U.S. Republican Pawlenty takes election step > Rajaratnam trial hears Hilton takeover evidence > Tiffany outlook keeps luster despite Japan quake > Citi to resume dividend, sets reverse stock split > ECB warns on rates, euro zone seals deal on fund > Jury selection kicks off in Barry Bonds trial
KEY INDEXES pct change
Bank of New York Asia ADR index +1.89
Dow Jones Industrial Average +1.50
Nasdaq Composite Index +1.83
Nikkei futures in Chicago 9,540
Nikkei futures in Osaka 9,130
TOP ASIA EVENTS:
For more Asian company earnings, see ASIA/EQTY
HONG KONG - China Huiyuan Juice Group Ltd
final results news conference
- China Coal Energy Co Ltd final results
- China Life Insurance Co Ltd final
results
- China Oilfield Services Ltd final
results
- China Telecom Corporation Ltd final
results
- Datang International Power Generation Co Ltd
final results
- Guangzhou Automobile Group Co Ltd
final results
- PCCW Ltd final results news
conference
AUSTRALIA - Iron Ore conference, Perth
(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.