* China industrial output at 19-mth high; loans slow
* Australia dollar struggles to stay above $0.9300
* HSBC stock climbs 5 pct after upbeat quarterly review
By Kevin Plumberg
HONG KONG, Nov 11 (Reuters) - Asian stocks rose for a
fourth day in a row on Wednesday as Chinese factory output
jumped to a 19-month high in October, while the ailing U.S.
dollar hovered near a 15-month low.
European stock markets were expected to open higher,
according to financial bookmakers, and U.S. stock futures edged
up, though further gains were becoming more difficult towards
the end of the year and some investors look to take profits
from this year's rally.
The Australian dollar slid briefly below $0.93 as other
data showed new loans from Chinese banks halved from September,
leading dealers to take profits just before the currency could
retest its October highs.
Nevertheless, other indications of China's economy were
within expectations and gave no sign that the recovery that has
led the world economy is petering out. []
"China's recovery has extended into Q4 and this momentum
looks set to continue into 2010," said Brian Jackson,
strategist with Royal Bank of Canada in Hong Kong.
"Growth is still heavily reliant on policy stimulus, easy
liquidity and government-directed investment, but we expect to
see stronger external demand in the months ahead."
The MSCI index of Asia Pacific stocks outside Japan
<.MIAPJ0000PUS> was down 0.2 percent, with technology stocks
the clear outperformer.
The Thomson Reuters index of regional shares <.TRXFLDAXPU>
was down 0.15 percent.
Japan's Nikkei <> ended largely unchanged on the day.
Hong Kong's Hang Seng index <> rose 1.2 percent to
within striking distance of its October high.
Shares of HSBC <0005.HK><HSBA.L> were the top boost to the
index, rising 5.3 percent after Europe's top lender said it saw
its first improvement in three years in U.S. consumer credit.
[]
In currency markets, the U.S. dollar remained under
pressure, though some analysts began to anticipate a corrective
move higher as market participants begin to price in the fading
effect of stimulus spending around the world.
"The USD correction, when it happens, is likely to be
particularly vicious versus the Australian dollar, New Zealand
dollar, Canadian dollar, South African rand, and Brazilian real
given market positioning and valuations," Standard Chartered
strategists said in a note.
The ICE Futures U.S. dollar index <.DXY>, a measure of its
value against six major currencies, was largely unchanged after
earlier slipping its lowest since August 8.
The index is down 7.7 percent so far this year.
Oil <CLc1> slid 0.4 percent to $78.72 a barrel, after
bearish U.S. industry data showing surprise increases in crude
and distillate stockpiles.
(Editing by Jan Dahinten)
