Thursday, September 15, 2011

Asian stocks set to rise but mood cautious on euro zone

SYDNEY: Asian stocks are set to open higher on Thursday after advances on Wall Street, but the mood will remain cautious amid fears of more ugly surprises stemming from Europe's debt crisis.

U.S. stocks rose 1 percent in a third day of gains on Wednesday after European leaders showed urgency in efforts to contain the euro-zone debt crisis. Italy also finally approved its austerity package.

Asian stocks listed on Wall Street rose only 0.3 percent, but Japanese and Australian stock futures pointed to healthy gains in the day ahead.

Nikkei futures traded in Chicago last traded at 8,585 points, about 125 points above the last close in Osaka. The benchmark Nikkei lost 1.1 percent to close at a near-five-month low of 8,518.57.

Australian stock futures also indicated a higher open, up 72 points at 4,088, compared with Monday's close in the underlying S&P/ASX 200 index of 4005.77. ' Reuters


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