STOCKS NEWS ASIA-Markets likely to weaken on flu, bank fears

Published: 28 Apr 2009 17:46:20 PST

(For the latest on global markets, click [MKTS/GLOB])

MELBOURNE, April 29 - Asian stocks are likely to fall on Wednesday on concerns over the global spread of swine flu and over U.S. bank balance sheets.

Swine flu continued its spread on Tuesday, with the number of confirmed cases in the United States rising to 65 and New Zealand and Israel added to the list of countries with confirmed cases.

In Mexico, epicentre of the outbreak, 149 people have died.

Japan's stock market was closed for a national holiday on Wednesday but the Australian market opened down 0.8 percent.

Australia's S&P/ASX 200 index <.AXJO> was weighed down by falls in bank shares after Australia and New Zealand Banking Group Ltd <ANZ.AX> posted worse-than-expected first-half profits. At 0014 GMT, the index was down 0.4 percent at 3,693 points.

U.S. markets all weakened on Tuesday.

The Dow Jones industrial average <.DJI> fell 0.10 percent to 8,016.95, the Standard & Poor's 500 Index <.SPX> 0.27 percent to 855.16 and the Nasdaq Composite Index <.IXIC> 0.33 percent to 1,673.81.

Asian stocks listed on Wall Street <.BKAS> slid 1.24 percent, while MSCI's measure of Asia Pacific stocks excluding Japan <.MSCIAPJ> fell 2.3 percent.

Among Asian ADRs, South Korean video-game firm Webzen <WZEN.O> <069080.KQ> posted the biggest lost, falling 11.9 percent, and Nissan Motor <NSANY.O> <7201.T> fell 6.2 percent.

The most actively traded Asian ADR was Japan's biggest leasing firm, Orix <IX.N> <8591.T>.

HEADLINES: > New swine flu infections intensify travel fears [nLS803449] > Fed meeting gets under way, policy seen on hold [nN28303396] > Wall St slips as more bank woe offsetsdata, IBM [nN28349836] > Pakistan begins new offensive against Taliban [nSP478249] > U.S. bank report, flu fears shake economy hopes [nN28291891] > Chrysler lenders, gov't set deal framework-sources[nN28328909] > Citi, BofA may need capital after stress tests [nBNG438915] > Bad debts hit Australia's ANZ, hard times ahead [nSYD432219] > Bank worries, flu fears knock oil, metals [nLS801660] > Gold falls below $890/oz on technical sell [nLS545488]

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KEY INDEXES pct change

Bank of New York Asia ADR index <.BKAS> -1.24

Dow Jones Industrial Average <.DJI> -0.10

Nasdaq Composite Index <.IXIC> -0.33

MSCI Asia Pacific ex-Japan <.MSCIAPJ> -2.29

Nikkei futures in Chicago <2NKc1> -2.15

Nikkei futures in Osaka <JNIc1> 0.00

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TOP ASIA EVENTS:

For more Asian company earnings, see [ASIA/EQTY]

JAPAN - Nation holiday (Showa Emperor's Day)

S.KOREA - Crisis management meeting, 0800 (2300 GMT)

Finance ministry

HONG KONG - CNOOC Ltd <0883.HK> Q1 results news conference

call, 1700 (0900)

- Aluminium Corp of China Ltd <2600.HK> (Chalco)

Q1 results

- China COSCO Holdings Co Ltd <1919.HK> Q1 results

- CITIC Bank Corp Ltd <0998.HK> final results

- Tsingtao Brewery Co Ltd <0168.HK> Q1 results

AUSTRALIA - Australia and New Zealand Banking Group <ANZ.AX>

H1 results

- OZ Minerals <OZL.AX> March qtr production report