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Friday, September 5, 2008

Asia Outlook on 05092008

Thu Sep 04 18:16:08 2008 EDT

2216 GMT [Dow Jones] ASIA OUTLOOK: Risk aversion hitting FX market with "safe haven" Japanese yen well higher vs EUR, USD, AUD, others on expectations that Asian shares will follow Wall Street's large fall; USD/JPY down at 106.03 vs 107.04 late in NY, EUR/JPY down at 150.79 vs 153.27. EUR/USD down at 1.4226 vs 1.4320 while GBP/USD at 1.7584 vs 1.7687. NZ share market down 0.6% so far, other bourses called sharply lower as DJIA shed 3%; Aussie market likely to do it tough on exposure to commodity prices. Data include NZ trade at 2245 GMT, Korea gross national income 2300 GMT, Aussie PCI 2330 GMT; Japan trade 2350 GMT. Philippine CPI 0100 GMT. Taiwan CPI/WPI 0800 GMT. Various figures due on FX reserves. Europe has UK Halifax house prices, German industrial output while in U.S., aside from payrolls, there's Yellen speech.(RXM)

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(END) Dow Jones Newswires

04-09-08 2216GMT

Copyright (c) 2008 Dow Jones & Company, Inc.

090408 22:16 -- GMT

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