WELLINGTON: Asian stocks will likely rise on Monday, Oct 4 as strong Chinese data at the end of last week fuelled a rally in commodity prices, with hopes raised of further stimulus for the sluggish U.S. economy.
The main Wall Street indexes gained between 0.1 percent and 0.4 percent on Friday, with commodity-sensitive stocks gaining a boost from data showing a pick-up in Chinese manufacturing activity.
Resource stocks outperformed after gold touched a two-year high and oil a seven-week high.
TECHNOLOGY [] shares struggled as investors locked in some of the September quarter gains, while Hewlett-Packard fell 3.1 percent after the company named former SAP Chief Executive Leo Apotheker as its new CEO and president.
Asian stocks listed on Wall Street <.BKAS> rose 1.11 percent.
British <.FTSE> shares rose 0.8 percent on the rise in commodity prices, while European <.FTEU3> shares slipped 0.3 percent as investors were cautious after weak data from the U.S. manufacturing sector.
The euro hit a six-month high against the U.S. dollar, after comments from a Federal Reserve official were seen backing the case for quantitative easing, while the greenback was weaker against the yen , inching closer to the point where the market sees the Bank of Japan as likely to intervene.
Despite the firmer currency, Japanese markets are seen opening higher. Nikkei futures traded in Chicago <2NKc1> were 80 points above the last closing level in Osaka.
Australian shares will likely gain on the back of strength in miners, although activity is likely be muted due to a partial holiday. Share index futures rose 25 points to 4,611, a 31.8 point premium to the underlying S&P/ASX 200 index. - Reuters
The main Wall Street indexes gained between 0.1 percent and 0.4 percent on Friday, with commodity-sensitive stocks gaining a boost from data showing a pick-up in Chinese manufacturing activity.
Resource stocks outperformed after gold
TECHNOLOGY [] shares struggled as investors locked in some of the September quarter gains, while Hewlett-Packard
Asian stocks listed on Wall Street <.BKAS> rose 1.11 percent.
British <.FTSE> shares rose 0.8 percent on the rise in commodity prices, while European <.FTEU3> shares slipped 0.3 percent as investors were cautious after weak data from the U.S. manufacturing sector.
The euro
Despite the firmer currency, Japanese markets are seen opening higher. Nikkei futures traded in Chicago <2NKc1> were 80 points above the last closing level in Osaka
Australian shares will likely gain on the back of strength in miners, although activity is likely be muted due to a partial holiday. Share index futures
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