WELLINGTON: Asian stocks are likely to post modest gains on Tuesday, Oct 12, as equity markets bank on further central bank stimulus and look ahead to the upcoming Wall Street quarterly earnings season which gets into full swing this week.
The main Wall Street indexes all closed marginally higher in trade thinned by a partial holiday in the U.S.
Investors were seen cautious to take large bets ahead of earning reports from Dow <.DJI> components Intel Corp, JPMorgan Chase & Co and General Electric Co , all due this week.
Analysts said quantitative easing - where the Federal Reserve injects more cash into the system by buying back assets - was now fully priced into the equity market.
Asian stocks listed on Wall Street <.BKAS> fell 0.06 percent.
British <.FTSE> and European <.FTEU3> shares both gained 0.3 percent, as markets were confident quantitative easing would provide a boost for the ailing U.S. recovery, driving growth in the world's largest economy.
The U.S. dollar staged a small recovery as some investors bet its recent declines were too steep, however, broader sentiment towards the currency is still bearish.
The greenback is still close to a 15-year low against the yen, struck on Monday.
Despite the strong currency, Japanese markets are seen advancing, after remaining closed on Monday for a public holiday. Nikkei futures traded in Chicago <2NKc1> 75 points above the last closing level in Osaka.
Australian shares are also seen tracking upward, with share index futures up 3 points to 4,718, a 20.5 point premium to the underlying S&P/ASX 200 index <.AXJO>. - Reuters
The main Wall Street indexes all closed marginally higher in trade thinned by a partial holiday in the U.S.
Investors were seen cautious to take large bets ahead of earning reports from Dow <.DJI> components Intel Corp
Analysts said quantitative easing - where the Federal Reserve injects more cash into the system by buying back assets - was now fully priced into the equity market.
Asian stocks listed on Wall Street <.BKAS> fell 0.06 percent.
British <.FTSE> and European <.FTEU3> shares both gained 0.3 percent, as markets were confident quantitative easing would provide a boost for the ailing U.S. recovery, driving growth in the world's largest economy.
The U.S. dollar staged a small recovery as some investors bet its recent declines were too steep, however, broader sentiment towards the currency is still bearish.
The greenback is still close to a 15-year low against the yen, struck on Monday.
Despite the strong currency, Japanese markets are seen advancing, after remaining closed on Monday for a public holiday. Nikkei futures traded in Chicago <2NKc1> 75 points above the last closing level in Osaka
Australian shares are also seen tracking upward, with share index futures
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