Wednesday November 4, 11:19 PM
STOCKS NEWS ASIA-Shares set for cautious gains
WELLINGTON, Nov 5 (Reuters) - Asian stocks are likely to make
a steady start on Thursday, as global stocks were firmer on the
back of a steady outlook for the U.S. economy.
The main U.S. share indices closed up to 0.3 percent higher,
after earlier rising more than 1 percent, paring gains as the
Federal Reserve held rates low as expected and said it would keep
them near zero for 'an extended period', giving investors little
cause to buy stocks.
Wall St had made a strong start to trading after solid data
from the labour market and the services sector.
British and European shares close more than 1 percent higher,
gaining after the strong U.S. data, with a rebound in miners and
banks.
Japanese shares are expected to open firmer with Nikkei (news)
futures traded in Chicago 55 points above the last
closing level in Osaka.
Australian stocks are also seen improving, with share index
futures at 4,544, a slender 3.9 point premium to the
underlying S&P/ASX 200 index's close on Wednesday.
The U.S. dollar fell against most currencies after the Fed
said it expected to keep rates low for some time, however it
gained against the yen.
Oil prices rose by more than 1 percent as a
combination of the data and the Fed statement prompted renewed
faith in recovering demand in the U.S.
HEADLINES:
> US Fed sees rates near zero for 'extended period'
> U.S. services sector grows, job losses slow
> Wall St rally fades late after Fed; Cisco up late
> ADRs gain on U.S. services sector, jobs data
> Chrysler (Xetra: 710000 - news) not burning cash, sees savings-Fiat CEO
> News Corp quarterly revenue falls, profit rises
> Cisco beats forecasts, points to recovery
> Qualcomm (NASDAQ: QCOM - news) revenue outlook misses estimates
> GM (NYSE: GM - news) 's U-turn on Opel sale angers Germany, Russia
> Time Warner (NYSE: TWX - news) profit beats estimates, outlook raised
> LG Elec says has no knowledge of Infineon (Xetra: 623100 - news) deal
> Intel (NASDAQ: INTC - news) hit by NY antitrust suit, kickbacks alleged
> Oil rises for 3rd day on inventory drop, Fed
--
KEY INDEXES pct change
Bank of New York Asia ADR index +0.82
Dow Jones Industrial Average +0.31
Nasdaq Composite Index -0.09
MSCI Asia Pacific ex-Japan -1.89
Nikkei futures in Chicago 9,875
Nikkei futures in Osaka 9,820
--
ASIAN ADR ACTION:
5 most actively traded: pct change
TSMC 1.79
Infosys Tech 2.36
AU Optronics 3.83
Lihir Gold (Munich: 897459 - news) 1.76
UMC 2.77
Top 5 performers: pct change
Genetic Tech 9.09
ICICI Bank 7.19
Mahanagar Tel 4.53
China Unicom (0762.HK - news) 4.50
Huaneng Power 4.17
Bottom 5 performers: pct change
Tom Online (8282.HK - news) -7.65
Wacoal Corp. -3.76
Mitsubishi UFJ -2.04
Mitsui & (Munich: 853656 - news) amp; Co. -1.79
Advantest (Berlin: VAN.BE - news) -1.72
--
TOP ASIA EVENTS:
For more Asian company earnings, see
JAPAN - Toyota Motor Corp Q2 results
- Nikon H1 results
- Bridgestone Q3 results
AUSTRALIA - David Jones Q1 sales
- Leighton Holdings annual meeting
- RBA Governor Glenn Stevens speech
HONG KONG - Lenovo Group H1 results
- Sino Land Co Ltd annual meeting
- Zijin Mining Group Co Ltd meeting
(Reporting by Adrian Bathgate)
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