Forex News Yen on the rise as risk aversion comes back into market, given slew of disappointments in U.S. after-hours from big companies; USD/JPY at 106.13 vs 106.68 late in NY, EUR/JPY 168.28 vs 168.87, EUR/USD at 1.5856. Wall Street gain, oil price fall in theory should support Asian shares, but U.S. stock futures are now down about 0.6-0.7% in screen trade. Google fell 9.3% in late trade as it missed Wall Street expectations.
Merrill Lynch dropped 9.8% as posted 4th-straight quarterly loss on $9.75 billion in extra write-downs on assets tied to tanking housing market; total write-downs topped analysts' estimates and results fell short of Wall Street expectations. Also, Microsoft off 5.6% after-hours as 4Q net income, 1Q guidance fell short; IBM off 1.2% even as it raised 2008 EPS outlook, and AMD slumped 8% with 2Q net loss wider than tipped. In Asia, data include BOJ minutes 2350 GMT, Aussie 2Q trade price for imports/exports 0130 GMT, Korea corporate bankruptcies 0300 GMT; Malaysia manufacturing sales 0400 GMT. BOJ's Shirakawa to give a speech. Europe has German PPI, Italy industrial turnover and orders, BoE Gieve speech; no major data on slate in U.S.
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