WELLINGTON: Asian stocks are set for a weaker start on Monday, Nov 15 as fears of tighter monetary policy in China have put global markets on edge.
Interest will be on Shanghai's stock market after its biggest loss in 14 months on Friday, on rumours further monetary policy tightening was likely to control inflation.
The main Wall Street indexes fell between 0.8 percent and 1.5 percent as investors feared lower demand from China would reduce profitability for energy and natural resource stocks.
Adding to concerns was lingering uncertainty about sovereign debt in the euro zone, with Ireland seen likely to need funds from the European Union.
Asian stocks listed on Wall Street <.BKAS> fell 1.9 percent.
British shares <.FTSE> fell 0.3 percent while European shares <.FTEU3> dipped 0.4 percent, with commodity-sensitive stocks such as miners the hardest hit.
The euro fell, as did growth sensitive currencies such as the Australian dollar , while the U.S. dollar and the yen gained.
Japanese stocks are seen opening flat after a sharp drop on Friday. Nikkei futures traded in Chicago <2NKc1> unchanged from the last closing level in Osaka.
Australian shares are set to open lower, with share index futures down 0.4 percent to 4,689, a 3.7 point discount to the underlying S&P/ASX 200 index <.AXJO>.
Investors will focus on resource stocks on the talk of higher Chinese rates, while BHP's scrapping of its $39 billion bid for Potash Corp and $4.2 billion return to shareholders and Commonwealth Bank's meeting of first quarter forecasts will also raise interest. - Reuters
Interest will be on Shanghai's stock market after its biggest loss in 14 months on Friday, on rumours further monetary policy tightening was likely to control inflation.
The main Wall Street indexes fell between 0.8 percent and 1.5 percent as investors feared lower demand from China would reduce profitability for energy and natural resource stocks.
Adding to concerns was lingering uncertainty about sovereign debt in the euro zone, with Ireland seen likely to need funds from the European Union.
Asian stocks listed on Wall Street <.BKAS> fell 1.9 percent.
British shares <.FTSE> fell 0.3 percent while European shares <.FTEU3> dipped 0.4 percent, with commodity-sensitive stocks such as miners the hardest hit.
The euro
Japanese stocks are seen opening flat after a sharp drop on Friday. Nikkei futures traded in Chicago <2NKc1> unchanged from the last closing level in Osaka
Australian shares are set to open lower, with share index futures
Investors will focus on resource stocks on the talk of higher Chinese rates, while BHP's
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