adidas Originals Women's Tubular B01M09NY4I 30249 Shadow M W Running Shoe, Haze Coral/Light Onix/Black, 5.5 M US B01M09NY4I Parent dca988a -

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.”

adidas Originals Women's Tubular B01M09NY4I 30249 Shadow M W Running Shoe, Haze Coral/Light Onix/Black, 5.5 M US B01M09NY4I Parent dca988a

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 *

Man's/Woman's Bestard Bestard Nova W B01M1R6R1M Parent Quality products International choice Very practical , Puma Basket Heart Denim Women, Women’s Basket Heart Denim Women B01M1V8EY5 ParentNike 819151-402 Air Huarache Ultra Run Premium Women’s Sneakers, B01MF5V7TE Parent , Nike Women’s 821913-103 Fitness Shoes, White B01MF5VAWM Parent , Nike Women’s 818100-402 Trail Running Shoes B01MF60HYC ParentNIKE Women’s 845361-003 Trail Running Shoes B01MF73HOA Parent , Nike Women’s 843882-300 Trail Running Shoes B01MF8MIXF ParentNIKE Women’s 862512-001 Fitness Shoes B01MF8PGVF ParentMr/Ms Nike Women's Running Shoes B01MFHBYAH Parent New Listing high quality Excellent workmanship , Nike 819151-006, Women’s Trail Running Shoes B01MFXDKDP Parent , Nike Women’s 454746-204 Fitness Shoes B01MFX3JX3 Parent , NIKE Women's 849665-001 Trail Running Shoes B01MFZZ9CR ParentNike Air Force 1 '07 Mid Leather Premium Women's Shoes B01MFZWMF1 Parent , Nike Air Max 90 Ultra Premium Women's Shoes B01MFZZ9L9 ParentMan's/Woman's Arche Womens Ritmik B01MG1I5EV Parent Good world reputation Brand various kindsStuart Weitzman Women's Edgedout Slide Sandal B01MG263OQ ParentHanwag Women’s Belorado Mid Winter Lady GTX High Rise Hiking Boots B01MG5SU0B Parent , Diadora N9000 NYL II Men's Sneakers B01MPXKV8G ParentStuart Weitzman Women's Decorslide Slide Sandal B01MPXSTKZ ParentNIKE Women's WMNS Tanjun Racer Training Shoes B01MPZJWT4 ParentSigerson Morrison Women’s Smrhoda3 Slide Sandal, US B01MQ3UGFE Parent , adidas Performance Women's Adizero Tempo w Running Shoe B01MQ5XAE0 ParentPUMA Golf Women's Tustin Saddle Golf Shoe, Drizzle White-Knockout Pink, 10 Medium US B01MQEMLLD Parent , Cavallo into Boots Linus Jump B01MQFVFPM ParentUnder Armour Womens Speedform Gemini 3 Gr record B01MQNGRRD Parentadidas Shoes – Nmd_XR1 W grey/blue/white B01MQPDQRE ParentSalewa Ws Ultra Train Gore-tex, Women’s Low Rise Hiking Shoes B01MQQ82XV Parent , adidas NEO Women's CF QT Racer W Running Shoe B01MQR2LA6 ParentSmartWool Women's Merino 250 Baselayer Pattern Bottom (Light Loden/Bordeaux) X-Large B01MQT6SP2 Parent

Time limit is exhausted. Please reload CAPTCHA.

adidas Originals Women's Tubular B01M09NY4I 30249 Shadow M W Running Shoe, Haze Coral/Light Onix/Black, 5.5 M US B01M09NY4I Parent dca988a -