WELLINGTON: Asian stocks are set for a cautious open on Friday as news of an agreement on an austerity programme for Greece counters concerns about slowing global growth.
The main Wall Street indexes closed between 0.5 percent lower and 0.7 percent higher -- well off session lows ' after they were initially knocked by weak U.S. housing and labour data and a move to tap strategic oil reserves, which heightened fears of a slowing world economy.
The negative mood was lightened by news that Greece had won the consent of the European Union and International Monetary Fund for a new five-year austerity plan, which buoyed sentiment and prompted Wall Street stocks and the euro to trim losses.
Asian stocks listed on Wall Street were fractionally lower, while world stocks, as measured by the MSCI world equity index, fell 1.3 percent, and the Thomson Reuters global stock index was down 0.55 percent.
The global growth outlook weighed on mining and energy stocks on the British market , which fell 1.7 percent, while European shares were down 1.45 percent to three-month low.
The U.S. dollar gained for a second session against the euro as investors looked to safe havens on the weak data although the Greek debt news lifted sentiment.
Oil prices fell after the International Energy Agency said it would inject 60 million barrels of government-held oil reserves into global markets.
Gold prices had their biggest one-day drop in more than a month, amid anxiety about Greece and the economic outlook. The 19-commodity Reuters-Jefferies CRB index slid 2.3 percent.
Japanese markets are seen flat, with Nikkei futures traded in Chicago 10 points below the last closing level in Osaka.
Australian stocks are set for a soft start, with share price index futures up 1 point at 4,488, a 12.5 point discount to the close of the underlying S&P/ASX 200 index. ' Reuters
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The main Wall Street indexes closed between 0.5 percent lower and 0.7 percent higher -- well off session lows ' after they were initially knocked by weak U.S. housing and labour data and a move to tap strategic oil reserves, which heightened fears of a slowing world economy.
The negative mood was lightened by news that Greece had won the consent of the European Union and International Monetary Fund for a new five-year austerity plan, which buoyed sentiment and prompted Wall Street stocks and the euro to trim losses.
Asian stocks listed on Wall Street were fractionally lower, while world stocks, as measured by the MSCI world equity index, fell 1.3 percent, and the Thomson Reuters global stock index was down 0.55 percent.
The global growth outlook weighed on mining and energy stocks on the British market , which fell 1.7 percent, while European shares were down 1.45 percent to three-month low.
The U.S. dollar gained for a second session against the euro as investors looked to safe havens on the weak data although the Greek debt news lifted sentiment.
Oil prices fell after the International Energy Agency said it would inject 60 million barrels of government-held oil reserves into global markets.
Gold prices had their biggest one-day drop in more than a month, amid anxiety about Greece and the economic outlook. The 19-commodity Reuters-Jefferies CRB index slid 2.3 percent.
Japanese markets are seen flat, with Nikkei futures traded in Chicago 10 points below the last closing level in Osaka.
Australian stocks are set for a soft start, with share price index futures up 1 point at 4,488, a 12.5 point discount to the close of the underlying S&P/ASX 200 index. ' Reuters
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