Fly Parent London Women’s Women’s Edan275fly Ankle Strap Sandals Fly B01M155EJC Parent a7db192 -

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.”

Fly Parent London Women’s Women’s Edan275fly Ankle Strap Sandals Fly B01M155EJC Parent a7db192

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 *

Maguidern Peep Toe High Heel Shoes, Women's 5 inches Stiletto Heel Pumps for Wedding and Party Dress B07GQ5M2LC Parent , Nine West Women’s Scheila Closed Toe Heels B01NAD6FJV ParentClarks Women’s Glove Echo Low-Top Sneakers, Black B07D2FZN2N ParentEl Naturalista N5021 Ibon Kuna, Women’s Closed-Toe Heeled Shoes B01N34JRIX ParentAldo Women’s Nisson Closed-Toe Pumps B01MDK0R5D Parent , Pleaser Devious Sexy-20, Women’s Dress Pump B00MH2OH5I Parent , Man's/Woman's Ellie Shoes Womens 018-princess B06Y4CCP2K Parent Attractive and durable fashionable Different goodsSchutz Women’s Shoes Peep-Toe Courts B071JDW8BK Parent , Ruby Shoo Elsy Shoes Gold B01KBF5HZG Parent , Gabor Dalcross, Women's Court Shoes B00VDT0YKI Parents.Oliver Women’s 24407 Closed-Toe Pumps B0776YXMR8 Parent , Nine West Women’s Fifth9x9 Le Leather Pump B06XRWKTNV ParentInception Pro Infinite Women's Shoes with Heels and hinge-LCF-054 B01M9I92BF Parent , EDEFS Womens Elegant Pointed Toe Court Shoes Clssic High Heel Dress Pumps B01N9LO78Y ParentPuma Evader Synthetic Leather, Women's Basketball Shoes B00PAH5XKU Parent , Softinos Women’s Ako416sof Closed-Toe Heels B06XX25N8H ParentCrocs Cyprus V Heel Women Heeled Shoes B00ZZ6PUYA Parent , Ruby Shoo Sand Eva Faux Suede Court Shoe Pumps Size UK 3-8 B00SZSUDOC ParentLunar Women's Bryce Peep Toe Kitten Heel Shoe in Pewter or Taupe B0789N7JPN Parent , Marc Fisher Womens Toni Suede Closed Toe Ankle Strap Classic Pumps B079Z3PMBQ ParentMarco Tozzi 22440, Women's Platform Shoes B01N0GL78Q ParentOCHENTA Womens Super High Metal Hell Platform Party Shoes B0166MZ1D6 ParentYE Women Stiletto High Heels Patent Leather Pumps Court Shoes B06XCJ32N3 ParentElobaby Women Wedding Shoes Satin Peep Toe Pumps Size Court High Heels Fashion Flowers/9cm Heel Satin B07DW714B3 Parent , Array Womens Le Plain Closed Toe Classic Pumps B003AIS0AG ParentIron Fist Turkish Delight Court Shoe, Women’s Turkish Delight Court Shoe B071L6FLP6 Parent , Gabor Comfort Basic, Women’s Closed Toe Heels B06XRV2P9L ParentCC038 Womens Court Shoes High Heel Plain Satin Outer High Heel Elegant Shoes For Wedding Bridal Bridesmaids Party... B072394CVJ Parent , Socofy Women's Pumps, Women's Leather Mid Heel Shoes Slip On Loafers Moccasins Slipper Flower Metallic Ballerinas... B07999KZWL Parent

Time limit is exhausted. Please reload CAPTCHA.

Fly Parent London Women’s Women’s Edan275fly Ankle Strap Sandals Fly B01M155EJC Parent a7db192 -