Reuters Finance News, Australia

SYDNEY, May 8 (Reuters) - Asian shares are set to fall on Thursday after worries about inflation and higher interest rates sparked a sell-off on Wall Street as oil jumped to a record.

Financial firms may decline after their U.S. peers fell following a warning from a Federal Reserve official that the central bank must be ready to raise interest rates to curb inflation.

However, the rise in oil prices CLc1 to an all-time peak above $123 a barrel could lift energy firms such as Japan's Inpex Holdings Inc 1605.T and Australia's Woodside Petroleum Ltd (ASX: WPL.ax) .

Asian stocks listed on Wall Street .BKAS fell 2.9 percent, while the MSCI's measure of Asia Pacific stocks excluding Japan .MSCIAPJ shed 1.3 percent overnight.

HEADLINES: Wall St dives on record oil over $123, financials [nN07298593] SEC says investment banks to air liquidity data [nWBT008948] U.S. pending homes sales fall, productivity up [nN07172859] Oil surges to new highs, dealers focus on diesel [nN07215709] News Corp profit rises on cable, TV ratings [nN07295215] Microsoft sends out feelers to Facebook-WSJ [nN07216413] Merrill's Thain: U.S. credit crisis easing [nBOM328895] Gold ends lower on dollar gains, oil cushions fall[nL07325632] Stronger dollar weighs on copper prices

[nL07145319] Singapore bank earnings slow; U.S. clouds outlook [nSP279065] CNPC eyes 49 percent stake in Nippon Oil refinery [nT172170] Acom in lead to buy GE Japan consumer lender

[nT130558] Alibaba erases gains, hit by growth concerns [nHKG168138]

KEY INDEXES pct change

Bank of New York Asia ADR index .BKAS -2.88

Dow Jones Industrial Average .DJI -1.59

Nasdaq Composite Index .IXIC -1.80

MSCI Asia Pacific ex-Japan .MSCIAPJ -1.31

Nikkei futures in Chicago 2NKc1 -1.59

Nikkei futures in Osaka JNIc1 +0.35

ASIAN ADR ACTION:

5 most actively traded: price change/pct

TSMC TSM.N2330.TW -3.05

Infosys Tech INFY.OINFY.BO -5.59

Siliconware SPIL.O2325.TW -2.90

BHP Billiton BHP.N(ASX: BHP.ax) -4.74

China Mobile CHL.N0941.HK -5.63

Top 5 performers: price change/pct

Mitsui & Co. MITSY.O8031.T +4.37

Metal Storm MTSX.O(ASX: MST.ax) +3.48

ASE ASX.N2311.TW +1.70

Nissan Motor NSANY.O7201.T +1.55

Nidec Copal NJ.N7756.T +1.31

Bottom 5 performers: price change/pct

China Eastern CEA.N0670.HK -10.66

SMIC SMI.N0981.HK -10.45

China Southern ZNH.N1055.HK -8.81

Genetic Tech GENE.O(ASX: GTG.ax) -8.50

PetroChina PTR.N0857.HK -7.47

TOP ASIA EVENTS:

For more Asian company earnings, see [ASIA/EQTY]

JAPAN - Earnings: Namco Bandai 7832.T, Mitsubishi

Chemical Holdings 4188.T, Asahi Kasei 3407.T

Showa Denko 4004.T, Kose 4922.T, Acom

8572.T

SEOUL - Bank of Korea monthly rate-setting

meeting

April consumer expectation index

SYDNEY - Labour force, April (Reporting by Geraldine Chua; Editing by Alan Raybould)