20100902 1104 Global Market News.

Asia stocks rise, US data soothes fears
TOKYO, Sept 2 (Reuters) - Asian stocks rose to a two-week high, with Japan's Nikkei briefly rising more than 2 percent, as strong U.S. manufacturing data further soothed worries about the global economy.
"It's too early to say worries about a double-dip recession in the economy have been wiped away just because China's PMI, Autralia's GDP and U.S. data weren't bad," said Masahiko Sato, an executive director at Nomura Securities' equity marketing department.

Oil slips as investors eye U.S. jobs reports
SINGAPORE, Sept 2 (Reuters) - Oil dipped as investors turned their attention to upcoming U.S. employment reports, following gains of almost 3 percent a day earlier after positive manufacturing data lifted spirits across markets.
"The market was just seeking optimism and this came from strong manufacturing data," said Serene Lim, a Singapore-based oil analyst at ANZ.

GLOBAL MARKETS-Oil, stocks rally on strong manufacturing data
NEW YORK, Sept 1 (Reuters) - Global stocks posted their biggest percentage gain this summer on Wednesday after U.S. and Chinese manufacturing data eased worries about the world's flagging economy and helped spur a rally in commodities.
"A rebound in risk appetite lured wary investors out of the relative safety of U.S. dollar-denominated assets," said Omer Esiner, chief market analyst at Commonwealth Foreign Exchange in Washington. "Surging stocks and generally firmer commodities signaled an improving mood throughout global markets."

Asian factory growth outstrips two-speed Europe
LONDON/BEIJING, Sept 1 (Reuters) - Manufacturing in China, India and Russia powered ahead in August while growth slowed in European factories, emphasising a growing divide in the pace of recovery between the rich and emerging worlds. Between the euro zone's biggest four economies there was strong evidence of diverging fortunes, with the bloc's manufacturing sector overall expanding at its slowest pace since February, surveys showed on Wednesday.

U.S. turns down China currency probes in two cases
WASHINGTON, Aug 31 (Reuters) - The U.S. Commerce Department decided on Tuesday not to investigate whether China subsidizes exports to the United States by undervaluing its currency, prompting renewed calls for Congress to act on the issue. "It's clear that China games the system by manipulating its currency," Senator Sherrod Brown said in a statement after the department announced its decision in cases involving imports of coated paper and certain aluminum products from China.

Strong Asian data boosts world stocks
LONDON, Sept 1 (Reuters) - World stocks kicked off September on a stronger note as data showed a manufacturing rebound in China and stronger-than-expected growth in Australia, while the yen held near recent 15-year peaks against the dollar. "After what could be considered a washout August, September is starting with a flourish," said Ben Potter, research analyst at IG Markets.