Do More With Reuters
Partner Services

STOCKS NEWS ASIA-Shares set for muted start as U.S. dips

Tue Jan 6, 2009 4:26am IST
 
Email | Print | | Single Page
[-] Text [+]
 WELLINGTON, Jan 6 (Reuters) - Asian shares are set for a
softer start on Tuesday, as Wall Street eased slightly after
investors booked profits following last week's solid rally.
 The initial flush of optimism, which marked the New Year,
quickly receded on Wall Street as expectations of lower
earnings hit telecommunications and financial stocks.
 But Japanese shares look likely to edge higher, adding to
Monday's strong gains, with Nikkei futures traded in Chicago
2NKc1 closing at 9,280, down 85 points but 210 points higher
than the Osaka futures JNIc1 close on Monday.
 The U.S. dollar gained against the euro and the yen, as
investors were buoyed by a fiscal stimulus package proposed by
U.S. president-elect Barack Obama, and the prospect of further
interest rate cuts by the European Central Bank.
 Crude oil prices rose 5 percent on fears over tensions in
the Middle East and between Russia and neighbouring Ukraine.
 HEADLINES: > Wall St slips on telecom, financials; Apple
jumps [nN05391795] > US, Germany mulls tax cuts, U.S. autos
sales fall [nN05322720] > Obama seeks swift passage of U.S.
fiscal package  [nN05273088] > Apple's Jobs reassures investors
about his health [nN05200877] > Gaza battle goes into night
despite truce calls    [nL5700436] > US seeks to revoke Madoff
bail;judge delays ruling[nN05385198] > Oil rises 5 pct as
geopolitical concerns mount     [nSP343684] > Russia reduces
gas flows to Europe via Ukraine      [nL513944] > Tyson Foods
CEO leaves company; shares slump      [nN05375385]
 KEY INDEXES                                   pct change
 Bank of New York Asia ADR index              0.07
 Dow Jones Industrial Average .DJI                -0.91
 Nasdaq Composite Index .IXIC                     -0.26
 MSCI Asia Pacific ex-Japan .MSCIAPJ               2.66
 Nikkei futures in Chicago 2NKc1                  -0.91
 Nikkei futures in Osaka JNIc1                      N/A
 ASIAN ADR ACTION:
 5 most actively traded                        pct change
 TSMC               (TSM.N: Quote, Profile, Research)(2330.TW: Quote, Profile, Research)                -1.95
 Infosys Tech       (INFY.O: Quote, Profile, Research)(INFY.BO: Quote, Profile, Research)                3.34
 Mitsubishi UFJ     (MTU.N: Quote, Profile, Research)(8306.T: Quote, Profile, Research)                 -0.48
 Siliconware        (SPIL.O: Quote, Profile, Research)(2325.TW: Quote, Profile, Research)                1.70
 BHP Billiton       (BHP.N: Quote, Profile, Research)(BHP.AX: Quote, Profile, Research)                  0.11
 Top 5 performers:                             pct change
 Woori Fin Gp       (WF.N: Quote, Profile, Research)(053000.KS: Quote, Profile, Research)               18.60
 Webzen             (WZEN.O: Quote, Profile, Research)(069080.KQ: Quote, Profile, Research)             11.63
 Kookmin Bank       (KB.N: Quote, Profile, Research)060000.KS               11.28
 Shinhan Fin Gp     (SHG.N: Quote, Profile, Research)(055550.KS: Quote, Profile, Research)               8.05
 Yanzhou Coal       (YZC.N: Quote, Profile, Research)(1171.HK: Quote, Profile, Research)                 6.48
 Bottom 5 performers:                          pct change
 Lihir Gold         (LIHR.O: Quote, Profile, Research)(LGL.AX: Quote, Profile, Research)               -10.17
 Wacoal Corp.       (WACLY.O: Quote, Profile, Research)(3591.T: Quote, Profile, Research)               -5.87
 China Eastern      (CEA.N: Quote, Profile, Research)(0670.HK: Quote, Profile, Research)                -5.08
 Internet Initiative(IIJI.O: Quote, Profile, Research)(3774.T: Quote, Profile, Research)                -4.76
 SK Telecom         (SKM.N: Quote, Profile, Research)(017670.KS: Quote, Profile, Research)              -4.63
 TOP ASIA EVENTS:
 For more Asian company earnings, see [ASIA/EQTY]
 HONG KONG - Shanghai Electric Group Co Ltd (2727.HK: Quote, Profile, Research)
             final results
 STH KOREA - Finance Minister meeting on economy
 (Reporting by Adrian Bathgate)

































Dubai Debt Fears

Villas are seen on the The Palm, Jumeirah, with Atlantis, The Palm, under construction on the breakwater (crescent), May 3, 2008.  REUTERS/Jumana El Heloueh

Banks outside the Gulf played down their exposure to Dubai debt, after fears the emirate could default and even derail world economic recovery prompted a sell-off in global markets.  Full Article | Slideshow 

India Investment Summit 2009
India Investment Summit 2009

Top executives and bankers discuss their own plans and the broader opportunities and challenges for India.  Full Coverage 

People stroll outside the Taj Mahal hotel ahead of the first anniversary of the militant attacks in Mumbai, November 24, 2009.  REUTERS/Punit Paranjpe
Investors worry about another attack

The risk of militants striking again worries investors who fear that a second attack similar to last year's Mumbai raids could shake the economy.  Full Article | Full Coverage 

Market Update

  • IndiaIndia
  • USUS
  • UKUK
  • Asia
  • Most Actives

road to Copenhagen

BLOGS

Photo
Calculated Move

Reliance aims big with $12 bln bid for LyondellBasell.  Blog 

SHOWCASE

Capital Raising
Capital Raising

Analysis - China banks' rush for billions could trip markets.  Full Article 

 
Photo
Bonus Payout

"Bonus" has become a dirty word on Wall Street.  Full Article 

 
Bubble trouble?
Bubble trouble?

With the BSE Sensex at around 17,000 points, are the Indian equity markets looking at a possible bubble?   Commentary 

 
Funding Blues
Funding Blues

A popular tactic used by Indian brokerages to raise money for rich clients is likely to be banned.  Full Article 

 
Recovery Path
Recovery Path

Indian techie logging out of downturn gloom.  Full Article 

 
Central Banks Cautious
Central Banks Cautious

Reuters tracks the policies of the world's top central banks as the debate over global economic recovery rages on.   Full Coverage 

 
Risky Proposal
Risky Proposal

Rupert Murdoch courts trouble if he blocks Google on news.  Full Article