OSI Pharmaceuticals, Inc.

Wall Street's modest gain overnight provided Asian stocks a positive lead, but lingering concerns over China's monetary policy could drag the regional markets today. Investors may keep cautious ahead of policy meetings by the US Federal Reserve and the Bank of Japan this week. Yesterday most Asian markets were lower. Japan's Nikkei 225 ended flat and South Korea's Kospi fell 0.8 per cent. China's Shanghai Composite lost 1.2 per cent, and Hong Kong's Hang Seng Index declined 0.6 per cent amid fears of Chinese government's possible credit tightening measure.

Asian markets are expected to rise today as Wall Street rallied overnight on improved data of manufacturing employment in the US and a takeover of American International Group's Asian arm by British insurer Prudential. Resources shares in Asia were up on Monday as the massive earthquake in Chile raised concerns on copper supplies. Asian markets closed mostly higher yesterday. Japan's Nikkei rose 0.5 per cent, lifted by a rise in non-ferrous metal shares. Hong Kong's Hang Seng Index gained 2.2 per cent and China's Shanghai Composite added 1.2 per cent on expectations Beijing may retain an appropriately loose monetary policy at the upcoming meeting of the National People's Congress.