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- Euro zeros in on 2012 low as Greek exit fears grip markets
- Yen to stay pressured ahead of BOJ; Aussie tad lower
- Euro up on China easing, Greece prospect; yen 6-mth low
- Euro hits 3-week low vs dlr on bailout delay worries
- Qatar c.bank satisfied with property credit growth
- Japan Azumi: to act firmly on FX volatility, speculation
- Portugal, Greek concerns weigh on world stocks
- Yen at 1-mo lows as Japan posts rare trade deficit
- Shares gain as Europe funding worries recede
- Euro Falls on Concern S&P Downgrade Will Hurt French Debt Sale Today
- Indian rupee seen under pressure on euro zone woes -finmin
- Asian shares rise; Oil spikes on Iran tension
- Euro struggles after ECB tender; more pressure eyed
- Asian shares, euro gain after upbeat U.S. data
- Swiss franc falls sharply after CPI data
- Euro consolidates gains; yen edges lower
- Dollar near 6-wk high as sovereign debt crisis dominates
- Dollar falls to 2-1/2 week low versus yen
- Stocks, euro rise on hopes of progress in Europe
- China Oct inflation drops, more policy tweaks seen
- Euro consolidates after rally; can rise further
- Asia shares steady but capped before EU summit
- Risk aversion sends assets down broadly pre-EU Summit
- Euro sags as Germany undercuts hope on crisis plan
- Euro rally takes a breather, more short-covering eyed
- Behind closed doors, China leaders to ponder big choices
- Euro Reaches Decade Low Versus Yen on Signs Debt Crisis Weighing on Growth
- Euro falls, stung by doubts about EFSF powers
- REFILE-FOREX-Euro bounce pauses, plenty of risk ahead
- Dollar Holds Two-Day Drop Against Euro as Asian Shares Advance
- Italy downgraded, IMF says Europe behind the curve
- Euro falls after EU finance ministers break no new ground on crisis
- Euro steady on move by central banks, EU meet eyed
- Euro relieved for now, more headwind ahead
- Euro firm after short-covering rally, downtrend intact
- Euro extends losses, hits 10-yr trough on yen
- Euro struggles, dollar bulls unimpressed by Obama
- Euro seen facing headwind ahead of ECB
- Euro falls to 6-mth low vs yen as debt fear mounts
- Euro, Aussie dollar struggle as risk aversion mounts
- Franc, Yen Advance as Economists Predict U.S. Job Growth Slowed Last Month
- Aussie in positive territory after local data
- FOREX NEWS :: Dollar steady after short- covering rally
- Japan boosts FX monitoring, creates $100 bln credit line
- Pound reverses fall vs euro but euro zone, UK concerns weigh
- Dollar Rallies as Fed Statement Fails to Calm Concern Over Slowing Growth
- FOREX-Swiss franc hits record vs euro as market confidence dives
- G7 seeks to calm markets rocked by debt crises
- Swiss franc elevated on economy fear, yen on BOJ watch
- Yen dives as Japan follows Swiss in currency war
- US Congress deadlocked over debt as default looms
- US debt standoff makes investors sell stocks, buy gold
- Japan's Noda repeats warning on yen rise
- FX Concepts’ Taylor Sees One More ‘Risk Rally’ Before Recession Takes Hold
- Bank of Korea confident U.S. will avoid debt catastrophe
- FOREX-Euro, dollar strike new lows on Swiss franc
- FOREX-Dollar steadies as impact from S&P warning short-lived
- Yen Declines on Speculation Japan Will Intervene; Aussie, Kiwi Strengthen
- FOREX-Euro sinks to record low vs Swiss franc as debt concerns spread
- CME to launch new Yuan FX futures contracts
- With Gold Set To Peak At $1,700, Miners Like Goldcorp Look Cheap
- FOREX-Euro vulnerable; ECB hike factored in
- Canada’s Dollar Weakens After Traders Consider Recent Advance Overdone
- Thaksin sister prepares to lead Thailand after stunning win
- Euro Climbs to Two-Week High Versus Dollar on Rate Prospects; Won Advances
- Optimism before Greek vote lifts Asian stocks
- Euro Falls Versus Dollar, Yen Before EU Ministers Meet on Greece Financing
- Euro gains after Greek vote, Nikkei futures drop
- CANADA FX DEBT-C$ hit for second day by US and Greek worry
- Euro Declines to Three-Week Low on Concern Europe Debt Crisis Is Worsening
- China’s Equity Markets
- FOREX-Euro and Aussie edge up, China CPI not as bad as feared
- EMERGING MARKETS-Latam FX slumps; Mexico peso at 2-month low
- Euro Falls, Heads for Weekly Drop, on Speculation Rate Increases Will Slow
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Asian shares rise; Oil spikes on Iran tension
Dated Posted: 2012-01-03
SINGAPORE, Jan 3 - Asian stocks rose on Tuesday as the first trading day of 2012 in most markets brought renewed appetite for riskier assets, while U.S. crude jumped 1.5 percent to above $100 a barrel on escalating tensions between Iran and the West.
Stronger-than-expected manufacturing data from China boosted sentiment in Asia, but Europe's drawn-out debt crisis continued to cloud the outlook and dragged on the euro, which struggled off a decade low against the yen.
"(The euro) ended last year on a downtrend, breaking key levels. Through much of last year, people were surprised how well it held up," said Greg Gibbs, a strategist at RBS.
"Eventually it started to fall... and that will make the market more sceptical over it and hence it's probably going to look a bit soggy at the start of the year."
The official Chinese purchasing managers' index, which indicated a slight rise in factory activity in December, also lifted industrial metals such as copper on hopes of increased demand.
MSCI's broadest index of Asia Pacific shares outside Japan rose 1.4 percent, led by gains for the materials and energy sectors, with mining heavyweights BHP Billiton and Rio Tinto both up more than 1.5 percent.
Stock indexes in Hong Kong and South Korea both rose around 2 percent.
Japanese markets were closed for a holiday.
Asian shares had a poor year in 2011, with the MSCI Asia ex-Japan falling 18 percent, sharply underperforming Wall Street's S&P 500, which finished the year virtually unchanged.
IRAN TENSIONS
The euro bought around 99.80 yen, climbing off a trough of 98.71 plumbed in the previous session, its lowest since late 2000.
Against the dollar, the euro rose to $1.2975, still within striking distance of its 2011 low of $1.2856 hit last week.
Oil rose after Iran said it had test-fired two long-range missiles, a display of military muscle flexing in the face of mounting Western pressure over its nuclear programme.
The move stoked fears of supply disruptions in the Strait of Hormuz, through which 40 percent of world oil is shipped, and pushed U.S. crude up 1.5 percent to around $100.30 a barrel.
Brent crude, one of the best performing widely traded assets in 2011 with a gain of around 13 percent, rose 1 percent to $108.47 a barrel.
Copper, which fell 20 percent in 2011 on fears of a global economic slowdown exacerbated by Europe's debt crisis, rose 0.8 percent, buoyed by the Chinese data, to around $7,664 a tonne.
Gold, which gained 10 percent in 2011 despite a sharp sell-off in the final months of the year as safe-haven investors switched to the dollar, also rose 0.8 percent to around $1,578 an ounce.
Source: Reuters
