Hotter Dew Casual Women's Casual ciproant-3373 Shoe Hotter Parent B07FN1Q523 de64912 -

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.”

Hotter Dew Casual Women's Casual ciproant-3373 Shoe Hotter Parent B07FN1Q523 de64912

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 *

Bloch Dance Neo-Form Dance Shoe Parent B01N4CB5KA , Running Shoes Womens Training Shoes Trainers Casual Sport Athletic Walking Gym Shoes Fashion Sneakers Breathable... Parent B076L4SNX1 , Philippe Model Women's Etoile Beige Sneaker with Flowers and Dogs Parent B078KSBVWBPakhuis Bike Bicycle Wheel Rims Reflective Stickers Luminous Parent B013JSE4HO , SHINIK Women's Shoes PU Summer Comfort Slippers & Flip-Flops Low Heel Round Toe Bowknot For Black Beige Yellow Parent B07D6VJ7CC , Skechers Women's Burst Tr - Inside Out Casual Shoe Parent B01JKEWIBAWomen Junior Mesh Casual Loafers Breathable Soft Walking Running Shoes Gym Sports Sneakers Comfortable Parent B07FZXYPMDBalaMasa Womens Toner Assorted Colors Travel Urethane Walking Shoes APL10573 Parent B07GLL6HV9Nike Women’s 844648-100 Fitness Shoes Parent B00GOE682U , Nike Women’s Air Max 2015 Trainers Parent B00VGR27YS , WXMDDN Female Latin dance shoes adult wine red dance shoes 3.5cm soft soles indoor dance shoes modern dance shoes Parent B077DVM16G , LATIN DANCE WEDDING BAREFOOT SANDALS ANKLET Parent B0713W82QT , Maripé Women’s 25044-172567 Low-Top Sneakers Blue Size: 7 UK Parent B07FZ8WPKJ , Maripé Women’s 25044-172567 Low-Top Sneakers Parent B07FZB5CK5 , Voilè Blanche Women's Trainers Multicolour Argento-Bianco Parent B07BKZG9Z8Philippe Model Women's THLDXF85 Green Leather Sneakers Parent B07HGGZY6Q , Cool Shoe Ballerina Pump Included – Black – Size 39 – Black Parent B007XPOCO0 , Mr/Ms Meisi Women’s Gianna Trainers Parent B005G0TE6U Fashion pattern Orders are welcome VariousMiu Miu Women's 5E983BZHMF0118 Silver Polyester Sneakers Parent B07HGH5712Muddyfox Womens MTB200 Cycling Shoes Waterproof Lightweight Mesh Breathable Parent B073VPJ339adidas Men’s EQT Support Adv Pk Low-Top Sneakers Parent B078FPBR7B , MBT Sneaker 702008-1209Y Racer 18W Red Parent B07BGDMJMX , Holywin Womens Retro Shoe Round Toe Platform Zipper Solid Color Thick Heel Martin Boots Parent B07H7QL8L5 , Reebok Women’s Royal Cljog 2 Kc Fitness Shoes Parent B07G1R4RYZWHLShoes Women'S Sandals Fashion Sandals Summer Students Sweet Toed Beach Flat Bottomed Flat Comfortable And Comfortable. Parent B07DJS5ZBFGentleman/Lady Mustang Women’'s 1146-308-221 Trainers Parent B077P9492B elegant Impeccable Very good classificationKennel & Schmenger Women’s 61-15490.510 Low-Top 7 UK Parent B0759HPPDPSpot On Ladies Flower Design Toe Post Sandals Parent B0746JJKJTColorful TM Fashion Women's Winter Warm Boots Warm Tassel Martin Square Heels Combat Boots Parent B07845GN96

Time limit is exhausted. Please reload CAPTCHA.

Hotter Dew Casual Women's Casual ciproant-3373 Shoe Hotter Parent B07FN1Q523 de64912 -