Mustang 1260-601-259 Women’s B071VNLV7V 1260-601-259 Parent Chelsea Boots B071VNLV7V Parent 1772e1a -

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.”

Mustang 1260-601-259 Women’s B071VNLV7V 1260-601-259 Parent Chelsea Boots B071VNLV7V Parent 1772e1a

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 *

Josef Seibel Women’s Neele 01 Boots B0132AUXG0 Parent , Josef Seibel Sienna 03, Women’s Boots B01GHFFXIK Parent , Rieker Z4166, Women’s Ankle Boots B013AZA7NQ ParentSkechers Women’s D'Lites - Alps Biker Boots B06XKT59Y8 ParentPuma Safety Shoes 47-630240-37, Women Safety Shoes & Boots - EN safety certified B00G6BY69I Parent , Funtasma Women’s Gogo 305 Ankle Boots B00A48ERMK Parent , NIKE Women’s WMNS Golkana Boot Snow B00F9IFFXK Parent , Ukala Women's Sydney Mini Ankle Boots B0052CKVMS ParentSole Runner Transition 2, Unisex Adults’ Chukka Boots B019DPYIZA Parent , RICOSTA Women’s Nane -S Boots B06XYJRB21 Parentelashe Women High Heel Boots | 15cm Round Toe Stilettos Ankle Boots | 5cm Platform Zip Sexy Booties B076H51NVT ParentTamaris Women’s 25424-21 Ankle Boots B07DK26TXH Parents.Oliver Women’s 5-5-25103-21 245 Ankle Boots B079YG2DV5 Parent , Gentlemen/Ladies Mustang 1199-519-820, Women’s Boots B0716P3YJF Parent Promotion High-quality materials Valuable boutiqueAisun Women's Sweet Slip On Heighten Heels Faux Suede Boots Shoes B075WVD681 Parent , Darco & Gianni Womens Ankle Boot Ladies Leather Boots Sexy Pointed Toe Mid Kitten Heel Back Zipper Comfortable... B075N93JRH ParentRieker Women’s X1561 Chelsea Boots, Grey B06XWP82WF ParentBlowfish Women’s Strum Cowboy Boots B06XZ6P22V ParentHudson Women's Jilt Ankle Boots B00MX12N5E ParentDockers 310712, Unisex Adults’ Boots B0083GTWG6 ParentMarco Tozzi 25460, Women’s Boots B071Z79R2R Parent , Gosch Shoes Women’s Wellington Boots B079YTRJKG ParentJana 25217, Women’s Combat Boots B01N3CRK17 ParentHunter Original Tall, Women's Rain Boots B000UH0792 ParentRemonte Women’s R7872 Chelsea Boots B01N7MDFP0 Parent , Rieker Women’s Y9730 Boots, Red (Wine), 3.5 UK B01NBW9UZU Parent , Marco Tozzi Women’s 26854 Snow Boots B071HQHZ3Q Parent , Man's/Woman's Carvela Women’s Pace Boots B071KP4D2J Parent Special purchase Primary quality Very good classificationMen/Women Mustang 1197-508-243, Women’s Boots B071L62RL3 Parent Complete specification range Bright colors Modern and elegant

Time limit is exhausted. Please reload CAPTCHA.

Mustang 1260-601-259 Women’s B071VNLV7V 1260-601-259 Parent Chelsea Boots B071VNLV7V Parent 1772e1a -