Primafila Women’s 14.0.005 14.0.005 30291 Ankle nhta-30292 Boots B01FMP06J2 Parent 9230cce -

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.”

Primafila Women’s 14.0.005 14.0.005 30291 Ankle nhta-30292 Boots B01FMP06J2 Parent 9230cce

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 *

ECCO Women’s Babett Ankle Boots B07D86ZLJL ParentGabor Women’s Brook S Ankle Riding Boots B00JKRY2YO ParentEl Naturalista Women’s N158 Soft Grain Ocean/Yggdrasil Chelsea Boots B01BE6L18I Parent , HÖGL Women’s 4-10 0842 0100 Boots, Black B06Y28F382 ParentEl Naturalista Women’s Ne28 Soft Grain Wood/Yggdrasil Slouch Boots B01BHISA4G Parentcamel active Women’s Palm 71 Ankle Boots B079LPDDH7 Parent , Fitflop Women’s Superbuckle Suede Chelsea Fashion Boot B075ZZ79Q1 Parent , Melvin & Hamilton Women’s Sally 30 Ankle Boots B06Y4RL9F4 Parent , Unisa Women’s Korbma_st Ankle Boots B076KRJCT3 ParentJil Sander Women’s Jn29108 Boots B06ZYS9BX3 Parent , LiliMill Poesia, Women’s Chelsea Boots B06ZZDZDGN Parent , Men's/Women's Unisa Women’s Paule_stc Boots B06ZYHXC2D Parent High security New products in 2018 Superb craftsmanshipMan/Woman Manas Women’s 172m6213ex Boots B07145874W Parent for you to choose online shop Most practical , Unisa Women’s Emma_CMT Chelsea Boots B071D5JPHF ParentSemler Valeria, Women’s Biker Boots B071DHZJNR ParentChie Mihara Peli, Women’s Boots B0728H9LC3 Parent , PLDM by Palladium Clue DST, Women’s Ankle Boots B072156N69 Parent , Sioux Grash.-d172-32-wf, Women’s Moccasin Boots B071ZFN3M5 Parent , Melvin & Hamilton Amelie 11, Women’s Ankle Boots B071GST19M ParentGentlemen/Ladies Art Women’s Salzburg Boots B0722X1BW2 Parent Online Shopping Environmentally friendly Elegant and solemnMan's/Woman's Bunker Women’s Boots B071FG7SMB Parent feature Clearance retail price , Kendall and Kylie Women’s Kkleah Boots B072F34PY5 ParentKendall and Kylie Women’s Kklance Boots B071VF51Z4 Parent , Shabbies Women’s Amsterdam Slouch Boots, Dark Brown B072HQ84B6 ParentBunker Gala, Women’s Ankle Boots B072F4RC6V ParentNeosens Women’s S062 Restored Skin-Vesubio Cuero/Baco Ankle Boots B072LCX5KC ParentWindsor Smith Women’s RAF Ankle Boots B072K5HTK4 ParentBronx Women’s Bx 1435 Brebirthx Biker Boots B072LW9RQQ ParentGentleman/Lady ARA Women’'s Bergamo-st Boots B072LNYKHN Parent Beautiful color Modern and stylish fashion renewed on time ,

Time limit is exhausted. Please reload CAPTCHA.

Primafila Women’s 14.0.005 14.0.005 30291 Ankle nhta-30292 Boots B01FMP06J2 Parent 9230cce -