Asia markets set to rise on recovery hopes

ASIAN stocks are set to rise on Wednesday as further signs of an economic recovery in the U.S. boosted investor confidence.

But any gains may be capped by the failure of U.S. stocks to extend a six-day rally after weak data on house prices took some of the shine off improved consumer confidence figures.

British and European markets posted solid gains of at least 0.7 per cent, with miners and energy stocks profiting from higher base metals and crude oil prices.

Japan’s Nikkei average is set to open stronger as the Nikkei futures traded in Chicago closed 85 points higher than the Osaka close. Exporters may be helped by the yen’s fall to a two-month low.



Australian shares are set for a positive start, with stock index futures at 4,865, a 18.9 point premium to the underlying index’s close on Tuesday. - Reuters












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