Tuesday July 28, 12:37 AM
STOCKS NEWS ASIA-Shares set for shaky start
WELLINGTON, July 28 (Reuters) - Asian stocks are seen making
a mixed start on Tuesday after the rally of the past two weeks
lost some momentum in the U.S.
The main U.S. share indices still nudged higher, gaining up
to 0.3 percent, as banks and building stocks rose on data showing
new home sales posted the biggest monthly gain in eight years.
Financial shares had lagged the market's gains of the past
two weeks, which saw each of the three major indexes rising about
11 percent as strong corporate earnings lifts optimism the
recession will soon be over.
British shares gained for the 11th straight session, with
energy stocks and miners the best performers, while European
shares closed at their highest in more than eight months, on
optimism over upcoming earnings results.
Japanese shares are set to edge higher, with Nikkei (news) futures
traded in Chicago 95 points above the last closing level
in Osaka.
But Australian markets are likely to start cautious with
September index futures at 4,118, a 0.5 point discount
to the underlying S&P/ASX 200 index's close on Monday.
The U.S. dollar hit a seven-week low against the euro as the
robust new home sales data reduced its safe-haven appeal.
Oil prices also benefited from the data, raising hopes
of an economic turnaround leading to higher demand.
HEADLINES:
> US June new home sales rate fastest in eight years
> Obama calls for deeper U.S.-Chinese ties
> Wall St ends up slightly in late rally
> Time Warner (NYSE: TWX - news) buys Google (NASDAQ: GOOG - news) stake in AOL for $283 mln
> U.S. vows to be passive investor in GM (NYSE: GM - news) , Chrysler (Xetra: 710000 - news)
> U.S. Rep. Frank sees finance reform by year-end
> Derivatives bill to clamp down on speculation
> Oil rises on US home sales data
> Nortel, RIM held wireless patent talks - source
> Verizon (NYSE: VZ - news) , Qualcomm (NASDAQ: QCOM - news) plan strategic partnership
> NY Fed names Nomura as U.S. primary dealer
> ADRs rise, buoyed by energy, bank shares
> Canon (Berlin: CNN1.BE - news) to revamp design,product data systems-Nikkei
> Sumitomo (Munich: 860364 - news) buys stake in Texas wind farm - Nikkei
> Citigroup CEO bullish on Asia - WSJ
--
KEY INDEXES pct change
Bank of New York Asia ADR index +0.47
Dow Jones Industrial Average +0.17
Nasdaq Composite Index +0.10
MSCI Asia Pacific ex-Japan +1.58
Nikkei futures in Chicago 10,175
Nikkei futures in Osaka 10,080
--
ASIAN ADR ACTION:
5 most actively traded: pct change
TSMC 0.00
Infosys Tech 0.12
AU Optronics -1.33
UMC 3.55
Siliconware 0.71
Top 5 performers: pct change
Novogen 15.30
China Eastern 7.40
China Southern 7.23
Mahanagar Tel 6.91
Genetic Tech 5.33
Bottom 5 performers: pct change
Chartered Semi -5.62
Prana Biotech -3.08
Huaneng Power -2.71
James Hardie -2.39
Sony Corp. -2.36
--
TOP ASIA EVENTS:
For more Asian company earnings, see
JAPAN - JFE Holdings Inc Q1 results
- Canon Inc Q2 results
- Hitachi Ltd Q1 earnings
AUSTRALIA - NAB business survey, Q2
STH KOREA - SK Telecom Q2 results
- July business sentiment
(Reporting by Adrian Bathgate)
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