Steve Madden Women's Gwen Madden 30224 Fashion Fashion Sneaker Parent B06XYH4WFL 976da7e -

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.”

Steve Madden Women's Gwen Madden 30224 Fashion Fashion Sneaker Parent B06XYH4WFL 976da7e

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 *

xiao123 Cat's paw Children's Adult Soft Ballet Yoga Performance Shoes Silver Glossy Square Fashion Simple Convenient... Parent B07F289R38Chuck Taylor HI Denim Unisex Parent B00RV86JP4 , Seavees Women's 08/61 Army Issue Low Nylon Fashion Sneaker, Black, 10 M US Parent B00E839LM8 , Puma Womens Blaze Of Glory Metallic Shoes Parent B01F7VST90 , Puma Womens Blaze Of Glory Metallic Shoes (7.5 B (M) US, Black team Gold) Parent B01F7VSW6U , Capezio Women's E Series Jazz Slip-On,Caramel,10 M US Parent B0018Q9YVG , Capezio Women's E Series Jazz Slip-On,Caramel,3 M US Parent B0018Q9XVW , YVWTUC Middle-Aged Ladies Sporting Shoes Cozy Lightweight Hiking Shoes Parent B07GRKNKW3Romika Women’s Cordoba 01 Trainers Parent B0785G64SY , Zormey Women'S Heels Spring Summer Fall Comfort Pu Office &Amp; Career Dress Chunky Heel Buckle Blushing Pink... Parent B0721XVBW5Men's/Women's Aldo Women’s Jacobe Trainers Parent B078HZY6DP Adequate supply and timely delivery Let our goods go to the world Elegant and stable packagingMiss KG Women’s Lucinda Trainers Parent B06W9P7QZLPhilippe Model Women's Shoes Etoile Tropical Bird Blue/Silver Sneaker Spring Summer 2018 Parent B07BNVLXBK , Asics - Gel Lyte III Limited Edition - Sneakers Unisex Parent B01BGVZS6CHSM Schuhmarketing Women's Running Shoes grey grey Parent B071CQSY58Fleet And Foster Womens/Ladies Shiraz Summer Sandals Parent B01DKK0EHU , Skechers Womens You - Beginning 14975_ Parent B07B9K3KYW , Nero Giardini P717220d, Women’s Low Trainers Parent B01NCXAKDH , Miyoopark KS8805 Ladies Girls Comfortable Mesh Modern Jazz Dance Shoes Sports Fitness Sneakers Parent B01NBK1C60ShangYi Latin dance shoes, dance shoes, adult women's dance shoes, soft bottom Square dance shoes, with height... Parent B07CJ12QL7WYMNAME Girls Latin Dance Shoes,Child Dancing Shoes Low Heels Wear-Resistant Sandal Parent B07CWW7HVM , Women's Vionic 'Fyn' Lightweight Active Trainers | FMT Support Technology Parent B01CPDFLGC , GAOLIXIA Women's Athletic Shoes Mesh Breathable Casual Shoes Comfortable Sneakers Anti-Skid Wearable Shoes Black... Parent B07CGJDYTZPepe Jeans Women’s Babel W Stars Trainers Parent B0787LH94HNew Balance - Womens 626v2 Shoes, UK: 8 UK - Width 2E, Black Parent B015YCB3YK , New Balance - Womens 626v2 Shoes, UK: 5.5 UK - Width 2E, Black Parent B015YCB3YA , Aisun Women's Breathable Slip On Platform Wedge Sneakers Parent B072PQFY2TGentlemen/Ladies pulsion all court w Parent B01N3AQ7Q6 Innovative design Cheaper than the price comfortable , Miyoopark Ladies Cross Strap Satin Latin Dance Sandals Wedding Shoes MY-L204 Parent B01N99ECK6 ,

Time limit is exhausted. Please reload CAPTCHA.

Steve Madden Women's Gwen Madden 30224 Fashion Fashion Sneaker Parent B06XYH4WFL 976da7e -