Stonefly B01M72KGEC Women’s 30260 Heels Dalya Ii Wedge Heels Sandals B01M72KGEC Parent 48e6153 -

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.”

Stonefly B01M72KGEC Women’s 30260 Heels Dalya Ii Wedge Heels Sandals B01M72KGEC Parent 48e6153

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 *

TKEES Women's Studio Flip Flop B016IMPPT4 Parent , Tamaris 28032, Women’s Open Toe Sandals B01A71L6XG ParentMARCO TOZZI premio Women’s 27206 Mules B077SXHCRF Parent , Aldo Women’s Sansperate Ankle Strap Sandals B078J35ZST ParentBuffalo Women’s 315972 Bhwmd A16# IMI Suede Ankle Strap Sandals, Beige B078BNWWBS Parent , BATA Women’s 661281 Platform Sandals B078K7XDXX Parent , BATA Women’s 769154 T-Bar Sandals B078K7QK32 ParentStonefly Women’s Avril 3(334-10) goa S Ankle Strap Sandals B078WBM973 ParentGioseppo Women’s 45338 Platform Sandals B078W855MW ParentGioseppo Women’s 44053 Open Toe Sandals B0798CJ27S Parent24 HORAS Women’s 23559 Open Toe Sandals B078XXGJ6F ParentGioseppo Women’s 45289 Open Toe Sandals B0798DYM4M Parent , Gioseppo Women’s 45285 Open Toe Sandals B0798CX1XD ParentVanessa Wu Women’s Caro Open Toe Sandals B07B1FMSZZ Parent , Gioseppo Women’s 44121 Open Toe Sandals B0798DYRPS Parent , Grunland Women’s Palo Open Toe Sandals B079G2M4LP Parent , Pleaser Women’s Sky 302 Heels Sandals B00125V7JA ParentTeva Women's Hurricane XLT Sports and Outdoor Lifestyle Sandal B015ZPJ58C Parent , Gioseppo Women’s 45268 Open Toe Sandals B0798GY5T4 Parent , Solillas Women’s Suave Serp Sling Back Sandals B01N0MAXLN ParentCarvela Women’s Kammie Np Open-Toe Sandals B01MQRJOD1 Parent , Office Women’s Misteria Gladiator Sandals B077ZJX3XJ ParentGentleman/Lady Birkenstock Women's Madrid Sandal B000I68F7Q Parent the most convenient At a lower price Sales online store , Rieker 608a6-80, Women’s Heels Sandals B00GI289C0 ParentBuffalo Women’s 314550 IMI Suede Ankle Strap Sandals B06W2MPBNZ Parent24 HORAS Women’s 23561 Open Toe Sandals B078XY5C32 Parent , Gentlemen/Ladies Fitflop Flora, Women's Sandals B00ZAGJHRG Parent Elegant shape Various types and styles Speed ​​refundAldo Women’s Jereidien Heels Sandals B019XUD47S Parent , Jonny`s Vegan Women’s Vegalastic Open Toe Sandals B0773S65R3 Parent ,

Time limit is exhausted. Please reload CAPTCHA.

Stonefly B01M72KGEC Women’s 30260 Heels Dalya Ii Wedge Heels Sandals B01M72KGEC Parent 48e6153 -