Panter 414011700 – Dragon Plus S2 B00Q2TQKCA S2 Black PU Dragon/TPU Size: 43 B00Q2TQKCA Parent 96c7dee -

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.”

Panter 414011700 – Dragon Plus S2 B00Q2TQKCA S2 Black PU Dragon/TPU Size: 43 B00Q2TQKCA Parent 96c7dee

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 *

Parade 07daurie87 67 Low Safety Footwear Size 8 B00QVRA8GM Parent , Jalatte JNU26-40"J-Nude/Jalcatch" Safety Shoes, SAS ESD S1P SRC, Size 6.5, Black/Grey - EN safety certified B00QWXIPOC ParentJalatte JNU26-41"J-Nude/Jalcatch" Safety Shoes, SAS ESD S1P SRC, Size 7.5, Black/Grey - EN safety certified B00QWXISV2 ParentCofra 63570-000.W40 Size 40"Ethyl" S3 SRC Safety Shoes - Black B00R6DITKM Parent , Cofra 63570-000.W41 Size 41"Ethyl" S3 SRC Safety Shoes - Black B00R6DIV5U Parent , Cofra 63410-000.W41 Size 41 S3 SRC Elenoire Safety Shoes - Black B00R6DNZNI ParentDickies Ladies/Womens Ohio Safety Trainer/Safety Footwear B00RAJM2QE ParentCONVERSE ALL STAR OX GRAPHICS 148382C MENS TRAINERS B00RV8XUWE ParentThe North Face Women’s W Shellista Ii Pull-on Safety Boots B00RW5FM6S Parent , Euro-Dan Classic Safety Shoe Closed with Lacing and Perforation, White S1+ SRC B00S4WK3OE Parent , Cofra NT100-000.W37 Size 37 S1 P SRC"New Arno" Safety Shoes - Black/Yellow B00SHLKNI8 Parent , INDUST. Starter – Plose New Not Epi Boots Size 46 B00SP93OCE ParentKEYS woman sneakers low 4928 blue B00SWWAWCO ParentCofra NT100-000.W43 Size 43 S1 P SRC"New Arno" Safety Shoes - Black/Yellow B00T638VEY ParentArt plast-chaussure U50/FRW Rattan-Effect Plastic White B00T6F4VW8 Parent , CanadianLine Canadia Line Creta Work Shoe EN ISO 20345: 2011 S3, 39, Black B00TAQG9VY Parent , Uvex 8512.8 1 S1 / SRC Safety Shoes Size 11 B00TCI6A64 ParentCofra 33051-007.W39 Size 39"Coulomb" S2 SRC Safety Shoes - Black B00TEAELY8 ParentCofra 35050 – 002.w36 Score S1 P SRC Safety Trainer Grey Size 3 (EU 36) B00TEAH0V4 Parent , Albatros 536010-300-28 Ladies-/Kids Boot"Juwel", Size 28, Blue B00TEAKWHI ParentAlbatros 536010-300-30 Ladies-/Kids Boot"Juwel", Size 30, Blue B00TEAKYIK Parent , Albatros 536010-300-36 Ladies-/Kids Boot "Juwel", Size 3.5, Blue B00TEAL3VC Parent , Albatros 536010-300-37 Ladies-/Kids Boot"Juwel", Size 4, Blue B00TEAL4MU ParentCofra NT290-000.W36 Size 36 S1 SRC"New Nilo" Safety Shoes - Beige B00TEALHAE Parent , Cofra NT290-000.W37 Size 37 S1 SRC"New Nilo" Safety Shoes - Beige B00TEALI62 ParentCofra NT290-000.W38 Size 38 S1 SRC New Nilo Safety Shoes - Beige B00TEALIVC ParentCofra NT290-000.W39 Size 39 S1 SRC"New Nilo" Safety Shoes - Beige B00TEALJU2 ParentCofra NT290-000.W41 Size 41 S1 SRC"New Nilo" Safety Shoes - Beige B00TEALLP0 Parent , Bogs Crandall Tall Women's Insulated Boots - Colour Chocolate Multi - Size UK 6.5 (Euro 40) B00TGZAI66 Parent

Time limit is exhausted. Please reload CAPTCHA.

Panter 414011700 – Dragon Plus S2 B00Q2TQKCA S2 Black PU Dragon/TPU Size: 43 B00Q2TQKCA Parent 96c7dee -