Ladola Womens Metal Soft-Ground ciproant-20065 Low-Cut Uppers Metal Ring Soft-Ground Urethane Pumps Shoes B0757JG3Y2 Parent 51c8e60 -

Asia shares rally as Wall St bounce relieves
Visitors look at a stock quotation board at Tokyo Stock Exchange, October 11, 2018. — Reuters pic
Visitors look at a stock quotation board at Tokyo Stock Exchange, October 11, 2018. — Reuters pic

SYDNEY, Oct 17 — Asian got some much needed relief today after upbeat US earnings reports drove a rebound on and helped restore a little confidence in emerging market stocks and currencies.

Japan’s Nikkei leaped out of the gates with an early rise of 1.3 per cent, but still has a long way to go to recoup the past week’s losses.

MSCI’s broadest index of Asia- shares outside Japan added 0.5 per cent and South Korea 1.5 per cent.

had jumped more than 2 per cent yesterday in reaction to upbeat earnings reports from major companies including UnitedHealth and Goldman Sachs.

“Analysts are looking at this reporting season in particular and the general data over the next couple of months for signs that the receding tailwinds of fiscal stimulus and the headwinds of tariffs are going to hit the US market simultaneously,” said Rakuten Securities Australia COO, Nick Twidale.

“On first viewing this doesn’t appear to be happening.”

On Wall Street, the three major indexes tallied their biggest one-day percentage gains since March. The Dow jumped 2.17 per cent, while the S&P 500 climbed 2.15 per cent and the Nasdaq 2.89 per cent.

Netflix Inc shot 12 per cent higher after the close as its results far outstripped market expectations with 7 million streaming customers added.

The blockbuster outcome sent shares of Alphabet Inc, Facebook Inc and Inc up about 1 per cent in extended trade.

The four make up the so-called FAANG group of high-growth companies that in recent months has lost some of its momentum following market-leading gains in recent years.

The US economic news was also robust, notably a sharp rise in job openings to a fresh all-time high.

My biggest threat

All this cheer favoured beaten-down currencies in emerging markets while taking some steam out of the safe-haven yen. The MSCI Emerging Market Currency Index rose for a third straight session.

The latest survey of global fund managers by BofA Merrill Lynch found they saw emerging market currencies as the most undervalued ever against the .

The dollar itself was up on the yen at 112.31 but flat on the euro at US$1.1578. Against a basket of currencies, the US dollar idled at 95.080 having touched a two-week trough overnight.

Not helping the US dollar was fresh criticism of the Federal Reserve from US President Donald Trump, who told Fox Business Network: “My biggest threat is the Fed.”

Ladola Womens Metal Soft-Ground ciproant-20065 Low-Cut Uppers Metal Ring Soft-Ground Urethane Pumps Shoes B0757JG3Y2 Parent 51c8e60

Trump has recently castigated the for raising interest rates.

“While such name calling shouldn’t mean anything in terms of what the Fed actually does, it is a factor which somewhat undermines sentiment towards the dollar,” said Ray Attrill, head of FX strategy at NAB.

“It’s a contributory factor, albeit minor, to recent poor performance of the US dollar.”

In commodity markets, held near recent 11-week highs at US$1,225.64 (RM5,091.42).

Oil prices firmed as expectations of higher US shale output vied with the risk that crude supply from the Middle East could be disrupted by looming US sanctions on Iran and growing tensions with top exporter Saudi Arabia.

Saudi Arabia has been under pressure since prominent Saudi journalist Jamal Khashoggi disappeared after visiting the Saudi consulate in Istanbul.

US crude rose 35 cents to US$72.27, while crude climbed 33 cents to US$81.74 a barrel. — Reuters

Source: The Malay Mail Online

Post Views: 6

Leave a Reply Cancel Reply

Your email address will not be published. Required fields are marked as *

AdeeSu Womens Spikes Stilettos Platform Buckle Patent-Leather Pumps Shoes B075999YPT Parent , 1TO9 Womens Grommets Low-Cut Uppers Pointed-Toe Urethane Pumps Shoes B0758D39RD Parent , AdeeSu Womens Rhinestones Spikes Stilettos Low-Cut Uppers Suede Pumps Shoes B07599BLZF ParentAdeeSu Womens Spikes Stilettos Low-Cut Uppers No-Closure Satin Pumps Shoes B07597ZXGC ParentAdeeSu Womens Buckle Chunky Heels Pointed-Toe Suede Pumps Shoes B0759BKX2S ParentAdeeSu Womens Chunky Heels Buckle Pointed-Toe Suede Pumps Shoes B0759BKX3G ParentAdeeSu Womens Grommets Platform Low-Cut Uppers Patent-Leather Pumps Shoes B0759CTYNL ParentAdeeSu Womens Chunky Heels Pointed-Toe No-Closure Suede Pumps Shoes B0759CTYNV Parent , AdeeSu Womens Spikes Stilettos Low-Cut Uppers Pointed-Toe Urethane Pumps Shoes B0759BCRQW ParentLadola Womens Soft-Ground Closed-Toe Casual Solid Metal Urethane Pumps Shoes B075BDQ7KT ParentAdeeSu Womens Spikes Stilettos Platform Low-Cut Uppers Urethane Pumps Shoes B0759BKX3N ParentLadola Womens Flat Soft-Ground Bows Cobra Low-Cut Uppers Urethane Pumps Shoes B075BJHF83 Parent , Ladola Womens Round-Toe Formal Platform Round-Toe Spikes Stilettos Urethane Pumps Shoes B075BGDLRW Parent , Ladola Womens Low-Cut Uppers Soft-Ground Casual Urethane Pumps Shoes B075BKFMWJ ParentLadola Womens Formal Platform Spikes Stilettos Solid Urethane Pumps Shoes B075BJMLDT ParentLadola Womens Applique Wedding Embroidered Urethane Pumps Shoes B075BM6YB8 ParentLadola Womens Glitter Bridal Closed-Toe Comfort Urethane Pumps Shoes B075BLD73Q ParentLadola Womens Peep-Toe Dress Platform High-Heel Urethane Pumps Shoes B075BNY8MV ParentLadola Womens Pointed-Toe Adjustable-Strap Charms Dress Urethane Pumps Shoes B075BMN4LW ParentLadola Womens Embroidered Applique Bridal Kitten-Heel Urethane Pumps Shoes B075BNZBTH Parent , Ladola Womens Business Spikes Stilettos Platform Solid Urethane Pumps Shoes B075BNY8N5 ParentLadola Womens Slip-Resistant Pointed-Toe Dress Low-Cut Uppers Urethane Pumps Shoes B075BNZCZN Parent , Ladola Womens Tuxedo Platform Waterproof Solid Round-Toe Urethane Pumps Shoes B075BNZ82D Parent , GRACE SHOES 0426 Decolletè Women B075BP7G95 ParentGRACE SHOES 0786 Decolletè Women B075BP7G93 ParentGRACE SHOES 0110 Decolletè Women B075BR31H9 ParentLadola Womens Slip-Resistant Pointed-Toe Formal Water_Resistant Urethane Pumps Shoes B075BPX46S ParentGRACE SHOES 0850 Decolletè Women B075BTM5SX Parent , GRACE SHOES 0103 Decolletè Women B075BQKSJZ Parent ,

Time limit is exhausted. Please reload CAPTCHA.

Ladola Womens Metal Soft-Ground ciproant-20065 Low-Cut Uppers Metal Ring Soft-Ground Urethane Pumps Shoes B0757JG3Y2 Parent 51c8e60 -