New Width Balance - Womens WRL247O WRL247O Lifestyle Lifestyle Shoes, 6.5 UK - Width B, Black/Sea Salt Parent B01N2XMDIJ 258d965 -

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.”

New Width Balance - Womens WRL247O WRL247O Lifestyle Lifestyle Shoes, 6.5 UK - Width B, Black/Sea Salt Parent B01N2XMDIJ 258d965

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 *

Coloranimal Gym Sports Running Walking Sneakers Lightweight Air Mesh Flats Tennis Shoes Parent B07GZ5R9FVQPYC Ladies Snow Boots Thick Bottom Increased Within Short Boots Artificial Velvet Warm Cotton Boots Student Shoes Parent B077K3RDC5Women's Mesh Sneakers,Fashion Shock Absorption Light Trainers Shoes,Comfort Breathable Sport Shoes,Camping Park... Parent B07H53XCN9 , Advocator Stylish Custom Design Flat Unisex 2018 Sport Shoes Custom Sneakers Parent B07GL2JVKN , Puma Women’s Carson 2 Metallic Multisport Outdoor Shoes, Black, 6.5 UK Parent B07237P2GN , Armani Womens Z55B7 Hi-Top Sneakers Parent B00MRZ4HXW , Diadora Heritage - Sneakers B.ELITE S SW for man and woman Parent B07B128D4V , Clarks Tri Trail, Women’s Low-Top Sneakers Parent B06XCCFHK7 , Misu Women's Peep toe Sandals Latin Salsa Tango Practice Ballroom Dance Shoes with 1.8" Heel Parent B01K42UB3E , CFP JJ-6134 Womens Latin Tango Cha-cha Salsa Ballroom 2.4''/3.3" Custom Heel T-bar PU Dance Shoes Parent B016OND8EG , WXMDDN Latin Dance Shoes Brown Dancing Shoes 5cm Soft Soles Dance Shoes Satin Indoor Dance Shoes Four Seasons Parent B0787ZR5YJ , HOGAN CLUB women low sneakers GYW00N0V270DPE0001 Parent B0117UED1I , Paul Green Women's 1230351_37 Hi-Top Trainers, Braun (Cuoio), 4 UK Parent B071DNSCCQ , Skechers Performance Women's Go Outdoor Walking Shoe Parent B01B2VSPWA , Paul Green Women's 1230351_40.5 Hi-Top Trainers, Braun (Cuoio), 7 UK Parent B071NFZGY6NIKE Womens Air Max 97" Triple White - White/White-Pure Platinum Trainer Parent B0752YYBL5 , NGRDX&G Women'S Espadrilles Canvas Shoes Ladies Breathable Walking Vulcanized Shoes Flat Shoes Parent B07D73RQMNPaul Green Women's 1230351_40 Hi-Top Trainers, Braun (Cuoio), 6.5 UK Parent B072DW5ZKC , adidas Women’s Stan Smith Bass Trainers Parent B01M0EVP0IPaul Green Women's 1230351_36 Hi-Top Trainers, Braun (Cuoio), 3.5 UK Parent B071NFZGFThunpta Women's Summer Sandals Shoes Peep-toe Low Shoes Roman Sandals Ladies Flip Flops Parent B06XCWTMKBadidas Unisex Adults' Seely Low-Top Sneakers Parent B071GP6PWYLIANGXIE Women High Top Breathable Sneakers Women's Running Lightweight Breathable Casual Sports Shoes Fashion... Parent B07HHDMRCBAsh Dazed Trainers Pastel Pink Leather & Suede Parent B0792NRK8Z , VANS sneakers women high fringes 315JUO SK8-HI MOC (SUEDE) Parent B06W2J56GSadidas Galaxy 4 W, Women’s Sneakers Parent B071X4NPBGFANQIANNAN Winter Indoor Women Shoes Cartoon Slippers Anti-Slip Flat Slippers Parent B07HQPC4J4adidas Originals Women's NMD_R1 raw Steel/White, 5 M US Parent B07CGJ78JHadidas Originals Women's NMD_R1 raw Steel/White, 8.5 M US Parent B07C67PDFF ,

Time limit is exhausted. Please reload CAPTCHA.

New Width Balance - Womens WRL247O WRL247O Lifestyle Lifestyle Shoes, 6.5 UK - Width B, Black/Sea Salt Parent B01N2XMDIJ 258d965 -