STOCKS NEWS ASIA-Shares set for uncertain start

WELLINGTON, March 17 (Reuters) - Asian shares are likely to
make a cautious start on Tuesday, with more optimism about the
health of major financial institutions tempered by a report of
increasing credit card defaults.

British bank Barclays Plc BARC.N echoed previous comments
by Citigroup (C.N) and Bank of America (BAC.N) by saying it had
made a strong start to 2009, helping to push Wall Street stocks
higher.

However, the main U.S. indexes reversed their gains and
broke a four-day winning streak to close slightly lower after
American Express (AXP.N) said the number of people struggling
to pay credit card bills was rising.

Technology stocks reported the biggest losses, with the
Nasdaq .IXIC down 1.9 percent, as investors booked profits in
semiconductor stocks following a week of gains.

Japanese investors will likely be cautious after the
government on Monday gave the economy its weakest diagnosis
since 2002. [nTKU103302]

Japanese shares are set for a marginally firmer start, with
Nikkei futures last trading in Chicago 2NKc1 at 7,810 points,
20 points above the last traded level in Osaka JNIc1.

The U.S. dollar fell broadly as the gains in stocks eroded
its safe-haven appeal.

Crude oil CLc1 and commodity prices were generally higher
on the rise in stocks.
HEADLINES: > American Express robs Wall St of 5th day of gains
[nN16537990] > U.S. output plummets, manufacturing at record
low [nN16510115] > Alcoa cuts dividend, seeks to raise cash

[nN16536634] > Outraged Obama goes after AIG bonus
payments [nN16328279] > Fortress posts wider Q4 loss;
funds shrink [nN16501968] > US OKs $2.1 billion Boeing
arms sale to India [nN16540642] > Chrysler sees Fiat deal
value at up to $10 bln [nN16518065] > Barclays confirms
talks on potential iShares sale [nLG308800] > Oil rises over
$1 as Wall St rally outweighs OPEC [nSYD484176] > Japan issues
grim report, U.S. banks provide hope [nLG76397] > US credit
card defaults rise to 20 year-high [nN16391424] > Auto
supplier Noble seeks short-term funds [nN16538809] >
Finance sector hopes helps tighten CDS spreads [nLG693231]
> Bernanke sees US upturn in '10, banks lift markets
[nSP246107] > HSBC says no need to raise more cash, shares up
[nHKG361773]

KEY INDEXES pct change

Bank of New York Asia ADR index .BKAS 1.08

Dow Jones Industrial Average .DJI -0.10

Nasdaq Composite Index .IXIC -1.92

MSCI Asia Pacific ex-Japan .MSCIAPJ 1.94

Nikkei futures in Chicago 2NKc1 1.43

Nikkei futures in Osaka JNIc1 1.43

ASIAN ADR ACTION:

5 most actively traded: pct change

TSMC (TSM.N)(2330.TW) -1.02

Infosys Tech (INFY.O)(INFY.BO) -0.91

ICICI Bank (IBN.N)(ICBK.BO) 7.12

Siliconware (SPIL.O)(2325.TW) -2.88

BHP Billiton (BHP.N)(BHP.AX) -1.10

Top 5 performers: pct change

Chartered Semi CHRT.OCSMF.SI 21.51

Webzen WZEN.O(069080.KQ) 10.00

Orix (IX.N)(8591.T) 9.94

Shinhan Fin Gp (SHG.N)(055550.KS) 9.92

Woori Fin Gp (WF.N)(053000.KS) 8.76

Bottom 5 performers: pct change

Genetic Tech (GENE.O)(GTG.AX) -34.17

PLDT (PHI.N)(TEL.PS) -8.19

Santos STOSY.O(STO.AX) -7.00

Satyam SAY.N(SATY.BO) -5.03

UMC (UMC.N)(2303.TW) -4.35

TOP ASIA EVENTS:

For more Asian company earnings, see [ASIA/EQTY]

JAPAN - January Tertiary Activity Index

HONG KONG - China Shipping Development Co Ltd (1138.HK)

final results

- Hongkong Electric Holdings Ltd (0006.HK)

final results

- The Hong Kong and China Gas Co Ltd (0003.HK)

final results

STH KOREA - Shinhan Group (055550.KS) annual meeting

- Q4 2008 funds flow data, Bank of Korea

AUSTRALIA - Minutes of Reserve Bank of Australia March

meeting
(Reporting by Adrian Bathgate)