WELLINGTON: Asian stocks look set for a cautiously firmer start on Monday, Nov 22, with investors watching market reaction to China's latest move to tackle its inflation and Ireland's package of loans from the EU and IMF.
Late on Friday, China's central bank said it would raise reserve requirements for the second time in two weeks, moves which have raised fears over the outlook for global growth.
Despite the move the main Wall Street indexes rose about 0.2 percent on Friday, as semiconductor shares rallied on a strong revenue report from Marvell Technologies.
The mood could get a lift from confirmation Ireland had finally accepted aid from the EU and IMF, which could extend to 80 to 90 billion euros over three years.
Asian stocks listed on Wall Street <.BKAS> fell 0.1 percent on Friday. British shares <.FTSE> fell 0.6 percent while European shares <.FTEU3> dipped 0.5 percent as the Irish concerns hit banks and fears and stronger commodity prices.
The euro firmed on the Ireland deal, while the greenback was steady against the Japanese currency. Japan's Nikkei <.N225> ended at a five-month high on Friday helped by demand from offshore hedge funds. Nikkei futures traded in Chicago <2NKc1> were 65 points above the last closing level in Osaka .
Australian shares are also seen steady to a touch firmer, with share index futures up 0.1 percent to 4,655, a 26 point premium to the underlying S&P/ASX 200 index <.AXJO>.
Attention on the debut of QR National, the biggest float in over a decade. - Reuters
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Late on Friday, China's central bank said it would raise reserve requirements for the second time in two weeks, moves which have raised fears over the outlook for global growth.
Despite the move the main Wall Street indexes rose about 0.2 percent on Friday, as semiconductor shares rallied on a strong revenue report from Marvell Technologies.
The mood could get a lift from confirmation Ireland had finally accepted aid from the EU and IMF, which could extend to 80 to 90 billion euros over three years.
Asian stocks listed on Wall Street <.BKAS> fell 0.1 percent on Friday. British shares <.FTSE> fell 0.6 percent while European shares <.FTEU3> dipped 0.5 percent as the Irish concerns hit banks and fears and stronger commodity prices.
The euro
Australian shares are also seen steady to a touch firmer, with share index futures
Attention on the debut of QR National
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