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STOCKS NEWS ASIA-Shares to fall on U.S. consumer jitters

Published: 16 Aug 2009 16:29:39 PST

(For the latest on global markets, click [MKTS/GLOB]) WELLINGTON, Aug 17 - Asian stocks are set to fall on Monday, as weak U.S. consumer confidence data weighed on markets.

The main U.S. share indices fell as much as 1.2 percent on Friday, led by lower retail stocks, as investors' confidence in the strength of the recovery was dented by the Reuters/University of Michigan Surveys of Consumers dropping to its lowest level since March. [ID:nN1430812]

British and European shares also finished weaker on the U.S. confidence data, which came a day after weaker retail sales figures, dampening hopes the U.S. consumer would drive a recover in the world's largest economy.

In Asia the main focus will be Japan's second quarter gross domestic product, which is expected to post its first growth in five quarters, although the future is not looking so bright. [ID:nT198707].

Japanese shares are set to start a shade weaker, with Nikkei futures traded in Chicago <2NKc1> 30 points below the last closing level in Osaka <JNIc1>.

Australian stocks are also seen opening lower, with September index futures <YAPcm1> at 4,397, a 64 point discount to the underlying S&P/ASX 200 index's <.AXJO> close on Friday.

The yen gained against the euro <JPYEUR=> and the dollar <JPY=> as the weak U.S. consumer data prompted investors to move away from riskier assets.

Oil prices <CLc1> posted their biggest loss in more than two weeks, as the consumer confidence data fed through to fears of weaker demand.

HEADLINES: > U.S. consumer morale sags, industrial output rises[nN14304812] > Australia shares seen weaker, resources to fall [nSYD428859] > China, ASEAN sign agreement on investment

[nBKK481659] > India PM: Returning to 9% growth biggest challenge[nBOM425889] > BlueScope Steel posts loss, warns on carbon plan [nSYU007035] > BoE's Sentance pins global recovery on Asia-paper [nLG022803] > Gulf of Mexico oil ops normal, companies eye storm[nN16311392] > Australia to split green energy from carbon laws [nSYD428942] > Public insurance not vital for healthcare-official[nN16345152] > North Korea to reopen border with South - KCNA [nLG023140] > Amcor to raise A$2.4 bln for Rio asset-paper [nWLF004325] > Boart Longyear to raise $635mln, posts H1 loss [nSYU007041] > BHP Billiton seeks transparent iron ore pricing [nB172362] > China joint-stock banks' H1 net down 19 pct-Xinhua[nSHA289472] > China must not let economy grow too fast -official[nPEK275733] --

KEY INDEXES pct change

Bank of New York Asia ADR index <.BKAS> -1.02

Dow Jones Industrial Average <.DJI> -0.82

Nasdaq Composite Index <.IXIC> -1.19

MSCI Asia Pacific ex-Japan <.MSCIAPJ> +0.13

Nikkei futures in Chicago <2NKc1> 10,560

Nikkei futures in Osaka <JNIc1> 10,590

ASIAN ADR ACTION:

5 most actively traded: pct change

Siliconware <SPIL.O><2325.TW> -2.67

TSMC <TSM.N><2330.TW> -3.56

Infosys Tech <INFY.O><INFY.BO> -2.19