asian stock market outlook september 14 2011

Indonesia stock info - asian stock market outlook september 14 2011 ; Asian stocks rose as banks advanced after French lenders dismissed concerns over their access to funds, easing concern that Europe’s debt crisis may lead to a freezing of credit markets.

Westpac Banking Corp., Australia’s No. 2 lender by market value, increased 1 percent. BHP Billiton Ltd., Australia’s No. 1 oil producer, jumped 0.8 percent after crude prices advanced. Tokyo Electric Power Co. slumped 3.7 percent on speculation Japan’s new trade minister may take a tough stance on power monopolies. Korean Air Lines Co. fell 3.4 percent after Goldman Sachs Group Inc. cut its rating on the stock.

The MSCI Asia Pacific Index gained 0.3 percent to 118.56 as of 10:01 a.m. in Tokyo, after earlier falling 0.3 percent. The measure slumped 8.6 percent last month, the most since May 2010, amid concern global economic growth is slowing as Europe’s sovereign-debt crisis spreads and after Standard & Poor’s cut the U.S. credit rating.

“We’ve seen stocks bounce around a lot, with all eyes still on Europe,” said Matt Riordan, who helps manage close to $6.6 billion in Sydney at Paradice Investment Management Pty. “The key from here is how governments manage the downside, in terms of how they restructure Greek debt and shore up their banks. The risk beyond this is to what extent this spreads into some of the larger countries.”

Japan’s Nikkei 225 (NKY) Stock Average increased 0.5 percent. Australia’s S&P/ASX 200 Index gained 0.7 percent. South Korea’s Kospi Index dropped 0.6 percent after being closed for the last two days, when the MSCI Asia Pacific Index fell 2.1 percent.

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