WELLINGTON: Asian stocks will likely climb on Friday, Nov 19, as a strong debut from General Motors and easing fears about Ireland's debt problems saw global markets rise.
GM's shares gained 3.6 percent in its first day of trade, renewing confidence in the equity market which has had a torrid month to date.
Demand for GM helped push the main Wall Street indexes around 1.5 percent higher, although the market retreated from earlier 2 percent gains as technical resistance proved too strong.
The concern about Ireland's banking crisis, which have dominated markets this week eased after the country's central bank chief said he expected Dublin to receive tens of billions of euros in loans.
Strong economic data added to the positive mood, with positive readings on jobless claims, factory activity and a gauge of future economic activity.
Asian stocks listed on Wall Street <.BKAS> rose 2.2 percent.
British shares <.FTSE> rose 1.3 percent while European shares <.FTEU3> gained 1.4 percent on easing Irish fears and stronger commodity prices <.CRB>.
The euro advanced strongly against the U.S. dollar and the yen , while the greenback was also stronger against the Japanese currency.
Stronger equity markets and a weaker currency are likely to boost Japanese markets, which jumped on Thursday more than 2 percent through the 10,000 level for the first time since June.
Nikkei futures traded in Chicago <2NKc1> 140 points were above the last closing level in Osaka.
Australian shares are also seen making a solid start, with share index futures up 0.6 percent to 4,684, a 43.8 point premium to the underlying S&P/ASX 200 index <.AXJO>. - Reuters
GM's
Demand for GM helped push the main Wall Street indexes around 1.5 percent higher, although the market retreated from earlier 2 percent gains as technical resistance proved too strong.
The concern about Ireland's banking crisis, which have dominated markets this week eased after the country's central bank chief said he expected Dublin to receive tens of billions of euros in loans.
Strong economic data added to the positive mood, with positive readings on jobless claims, factory activity and a gauge of future economic activity.
Asian stocks listed on Wall Street <.BKAS> rose 2.2 percent.
British shares <.FTSE> rose 1.3 percent while European shares <.FTEU3> gained 1.4 percent on easing Irish fears and stronger commodity prices <.CRB>.
The euro
Stronger equity markets and a weaker currency are likely to boost Japanese markets, which jumped on Thursday more than 2 percent through the 10,000 level for the first time since June.
Nikkei futures traded in Chicago <2NKc1> 140 points were above the last closing level in Osaka
Australian shares are also seen making a solid start, with share index futures
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