Ital-Design nhta-20447 Women’s Parent Hi-Top Trainers 4 Trainers UK Parent B07D17GYTH 61ee8e6 -

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.”

Ital-Design nhta-20447 Women’s Parent Hi-Top Trainers 4 Trainers UK Parent B07D17GYTH 61ee8e6

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 *

Nopersonality Lightweigh Mesh Running Shoes Casual Flat Walking Sneakers UK3-10 Parent B07D7Y154ZNopersonality Womens Casual Lightweight Sneakers Floral Running Walking Shoes Flats Parent B07D7ZQVWKIkrush Womens Meghan Distressed Denim Mom Jeans Parent B07D83D7LX , MECshopping Women's Trainers Black Black Parent B07D8Y13N4Mr/Ms NIKKI ME Women's Sneakers Parent B07D8Y36S5 Innovative design Various types and styles Brand feastGentlemen/Ladies ROXY ROSE Women's Trainers Parent B07D93G4X6 Beautiful color The latest technology Seasonal promotion , Northwest Territory Oklahoma Sports Beach Walking Sandals Trainers UK 3 Parent B07D93QSYXMen's/Women's HERIXO Women's Trainers Parent B07D978LBW Reputation first First batch of customers Cost-effective , Nopersonality Sneakers for Women Fashionable Punk Skull Light Weight Casual Walking Shoes EU 35-43 Parent B07D9J39F5 , HUGS IDEA Women's Lightweight Running Shoes Flower Pattern Outdoor Sport Sneakers Parent B07D9JXXFL , Elara Women Low-Top Green Size: 4 UK Parent B07D9KGLFBElara Women Low-Top Green Size: 8 UK Parent B07D9KQVMDElara Women Low-Top Green Size: 5 UK Parent B07D9KTWB7 , Elara Women Low-Top Green Size: 7 UK Parent B07D9KZCVFElara Women Low-Top Green Size: 6 UK Parent B07D9LLY2YGentleman/Lady MECshopping Women's Trainers Parent B07D9LQ551 Moderate price low cost valueElara Women Low-Top Green Size: 8.5 UK Parent B07D9LYLL9 , Gothicana by EMP Giving Ground Sneakers Black Parent B07DCWXQVT , Nopersonality Womens Cowboy Cat Canvas Slip On Espadrilles Shoes Pumps Sizes 3-10 Parent B07DCXFX2J , Showudesigns Running Sport Shoes Women Girl Trainer Outdoor Sneaker Fashion Print Parent B07DDGYGMBNopersonality Womens Air Mesh Easy Go Running Trainers Athletic Walk Gym Shoes Sport Jogging Parent B07DDH7P54 , Aisun Women's Daily Square Toe Slip On Wedge Heels Sneakers Parent B07DDJ7JRZ , Gentlemen/Ladies AIYOUMEI Womens Ankle-Strap Parent B07DFHQ8P1 Online Shopping real Perfect processingNatural World Women's Trainers Green Green 2.5 Parent B07DFJZL4Z , Natural World Women's Trainers Blue Blue 4 Parent B07DFPCB1BNopersonality Stylish Women's Lightweight Running Shoes Sport Walking Sneakers Size UK3-10 Parent B07DGVWWQ3Man/Woman Agiler One Womens Low-Top Parent B07DGXCP6Y Guarantee quality and quantity Highly praised and appreciated by the consumer audience German OutletsGentlemen/Ladies NEWCOLOR Unisex Adults’ Low-Top Parent B07DHS3BRR Clever and practical luxurious Clearance saleGentleman/Lady NEWCOLOR Women's Trainers Parent B07DHS5NKN High quality and low overhead the most economical value ,

Time limit is exhausted. Please reload CAPTCHA.

Ital-Design nhta-20447 Women’s Parent Hi-Top Trainers 4 Trainers UK Parent B07D17GYTH 61ee8e6 -