2219 GMT [Dow Jones] ASIA OUTLOOK
Regional stock markets have positive cue from DJIA's 1.2% rise, Nasdaq's 1.1% gain; lower oil prices also likely to help sentiment. Financial stocks should do well, in line with their U.S. peers, though that optimism could be slightly muted by $3.3 billion 2Q loss posted by Washington Mutual after the closing bell; shares down 3.1% in after hours trade. In FX markets, USD has positive tone after Philadelphia Fed's Plosser says higher rates may be needed to curb inflation, also Treasury Secretary Paulson's reiteration of the need for strong USD; gains in regional equities also likely to improve risk appetite, though there's some risk USD pullback after sharp gains overnight; USD/JPY last 107.27 vs 107.33 late NY, EUR/USD at 1.5787 vs 1.5778, EUR/JPY at 169.35 vs 169.32. On data front, there's Australia CPI at 0130 GMT, skilled vacancies index at 0100 GMT, Singapore CPI at 0500 GMT, Taiwan industrial output, export orders at 0800 GMT, Malaysia CPI at 0800 GMT. Later, there's BoE MPC minutes, EU industrial new orders, UK CBI industrial trends, U.S. MBA mortgage application, oil inventories, Fed Beige Book. (CNG)
Contact us in Singapore. 65 64154 140;
MarketTalk@dowjones.com
(END) Dow Jones Newswires
July 22, 2008 18:19 ET (22:19 GMT)
Regional stock markets have positive cue from DJIA's 1.2% rise, Nasdaq's 1.1% gain; lower oil prices also likely to help sentiment. Financial stocks should do well, in line with their U.S. peers, though that optimism could be slightly muted by $3.3 billion 2Q loss posted by Washington Mutual after the closing bell; shares down 3.1% in after hours trade. In FX markets, USD has positive tone after Philadelphia Fed's Plosser says higher rates may be needed to curb inflation, also Treasury Secretary Paulson's reiteration of the need for strong USD; gains in regional equities also likely to improve risk appetite, though there's some risk USD pullback after sharp gains overnight; USD/JPY last 107.27 vs 107.33 late NY, EUR/USD at 1.5787 vs 1.5778, EUR/JPY at 169.35 vs 169.32. On data front, there's Australia CPI at 0130 GMT, skilled vacancies index at 0100 GMT, Singapore CPI at 0500 GMT, Taiwan industrial output, export orders at 0800 GMT, Malaysia CPI at 0800 GMT. Later, there's BoE MPC minutes, EU industrial new orders, UK CBI industrial trends, U.S. MBA mortgage application, oil inventories, Fed Beige Book. (CNG)
Contact us in Singapore. 65 64154 140;
MarketTalk@dowjones.com
(END) Dow Jones Newswires
July 22, 2008 18:19 ET (22:19 GMT)
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