WELLINGTON: Asian stocks are set for a tepid start on Monday, Dec 6, as confidence that the economic recovery is gaining momentum was dented by poor U.S. jobs data.
Despite the monthly rise in payrolls being well below forecast in November, the main Wall Street indices eked out modest gains of up to 0.5 percent on Friday.
Analysts said the belief that the recovery is now sustainable has given the market the ability to look through setbacks such as the weak jobs data, which saw the unemployment rate increase to 9.8 percent.
Reports that Federal Reserve Chairman Ben Bernanke is not ruling out expanding the central bank's asset-buyback programme provided a late boost to U.S. markets.
Asian stocks listed on Wall Street rose 0.63 percent.
The U.S. dollar fell across the board on the data and Bernanke comments, sending gold prices higher.
British shares <.FTSE> ended the week down 0.4 percent while European stocks <.FTEU3> dipped 0.2 percent, as the U.S. data unnerved investors.
Japanese markets make are seen opening a touch lower, with Nikkei futures traded in Chicago <2NKc1> 15 points below the last closing level in Osaka. The market at one stage on Friday hit a technical level pointing to the market being overbought.
Analysts have suggested that investors may also be cautious because of this week's special quotation, the closely watched settlement price, which is calculated from the opening prices of the 225 shares on the Nikkei average on the second Friday of the month.
Australian stocks are also seen making a positive start, helped by stronger base metal prices. Share price index futures rose 0.1 percent to 4,715, a 20.8 point premium to the close of the underlying S&P/ASX 200 <.AXJO> index. - Reuters
Despite the monthly rise in payrolls being well below forecast in November, the main Wall Street indices eked out modest gains of up to 0.5 percent on Friday.
Analysts said the belief that the recovery is now sustainable has given the market the ability to look through setbacks such as the weak jobs data, which saw the unemployment rate increase to 9.8 percent.
Reports that Federal Reserve Chairman Ben Bernanke is not ruling out expanding the central bank's asset-buyback programme provided a late boost to U.S. markets.
Asian stocks listed on Wall Street rose 0.63 percent.
The U.S. dollar fell across the board on the data and Bernanke comments, sending gold
British shares <.FTSE> ended the week down 0.4 percent while European stocks <.FTEU3> dipped 0.2 percent, as the U.S. data unnerved investors.
Japanese markets make are seen opening a touch lower, with Nikkei futures traded in Chicago <2NKc1> 15 points below the last closing level in Osaka
Analysts have suggested that investors may also be cautious because of this week's special quotation, the closely watched settlement price, which is calculated from the opening prices of the 225 shares on the Nikkei average on the second Friday of the month.
Australian stocks are also seen making a positive start, helped by stronger base metal prices
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