Down 29846 To Earth Earth Ladies Flat B01MF4SK1N Calf Boots B01MF4SK1N Parent 25ad73e -

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.”

Down 29846 To Earth Earth Ladies Flat B01MF4SK1N Calf Boots B01MF4SK1N Parent 25ad73e

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 *

Allhqfashion Women's High-Heels Solid Round Closed Toe Soft Material Pull-on Boots B01MG54P5W ParentAllhqfashion Women's Kitten-Heels Frosted Mid-top Solid Pull-on Boots B01MG559KH ParentAllhqfashion Women's Pull-on Kitten-Heels PU Solid Low-top Boots B01MG559NX Parent , Allhqfashion Women's Solid High-Heels Round Closed Toe PU Chains Boots B01MG59FGG ParentMinetom Women Winter Long Boots Over The Knee Elastic Boots Chunky Heel High Heel Leather Boots B01MG5E8GM Parent , Allhqfashion Women's High-top Solid Pull-on Round Closed Toe High-Heels Boots B01MG5PFQZ ParentAllhqfashion Women's Solid Frosted Kitten Heels Pull On Pointed Closed Toe Boots B01MG5PHLJ ParentAllhqfashion Women's Zipper Round Closed Toe Low Heels Blend Materials Solid Boots B01MG5PILB ParentAllhqfashion Women's Solid Soft Material Low Heels Pull On Round Closed Toe Boots B01MG5PLNL Parent , Mr/Ms Sole Phoebe Boots Black B01MG62QFF Parent Exquisite (middle) workmanship a variety of Highly appreciated and widely trusted in and outGentlemen/Ladies MODELISA Women's Jax208-7 Boots B01MG6D2ZP Parent Economical and practical Attractive fashion Highly appreciated and widely trusted in and out , Moda e design Women's Boots B01MG8X1QR Parent , Allhqfashion Women's High-Heels Solid Round Closed Toe Frosted Pull-on Boots B01MPX9AM6 Parent , Allhqfashion Women's Pull-on Low-Heels PU Solid Low-top Boots B01MPXABMJ Parent , TAOFFEN Women Autumn-Winter Suede Flat Ankle Boots Half Boots B01MPXDAIE Parent , Allhqfashion Women's Kitten Heels Frosted Solid Pull On Round Closed Toe Boots B01MPXDCDZ ParentLongFengMa Women's Square Heel Platform Knee Boots B01MQ4PVHK ParentLongFengMa Women's Square Heel Round Toe Low-Top Ankle Boots B01MQ4Q5TA Parent , LongFengMa Women's Square Heel Platform Tassels Knee Boots B01MQ4Q5TL ParentLongFengMa Women's High Heel Platform Tassels Ankle Boots B01MQ4RDVF ParentTAOFFEN Women Fahion Flat Suede Half Boots Warm Snow Boots With Buckle Strap B01MQ4VJRE Parent , Mr/Ms Sole Patsy Boots Black B01MQ5Q8RJ Parent Good design Stylish and charming best sellerCOOLCEPT Women Classic Western Boots Mid Top Wedges Heels Winter Shoes B01MQ5R3WV Parent , AgooLar Women's Solid Imitated Suede Kitten Heels Round Closed Toe Pull On Boots B01MQ60O60 ParentAgooLar Women's Zipper Kitten Heels PU Solid Low-top Boots B01MQ60O97 Parent , COOLCEPT Women Fashion Faux Suede Combat Ankle Boots (43 EU, Brown) B01MQ66LY0 ParentIkrush Womens Flossie Knit Heeled Boots B01MQ6724J ParentAllhqfashion Women's Solid PU Low-Heels Zipper Round Closed Toe Boots B01MRE2HNI Parent , New Women’s Mid Size Heel Over the Knee Foldover Faux Suede Boots B01MQCE8EQ Parent

Time limit is exhausted. Please reload CAPTCHA.

Down 29846 To Earth Earth Ladies Flat B01MF4SK1N Calf Boots B01MF4SK1N Parent 25ad73e -