Marco Tozzi Women’s 22431-31 Closed-Toe Closed-Toe Pumps Pumps Marco B07D78LZ3T Parent 74e3e10 -

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.”

Marco Tozzi Women’s 22431-31 Closed-Toe Closed-Toe Pumps Pumps Marco B07D78LZ3T Parent 74e3e10

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 *

Nine West Kurt Geiger BELIZEIT3" Black Patent Court Shoe B00EEZY3L4 ParentSandpiper Women's Shoe 'Uxbridge' | Wide EEE Fit | Ultra Lightweight | Elasticated Bar Strap | Low Cut B01LZMBSVI ParentYE Women Ankle Atrap Stiletto High Heels Patent Leather Pumps Court Shoes B06XCMDWRN Parent , Marco Tozzi 2-22425-22 Womens Pumps B07286RZGD Parent , JANA / SOFTLINE J 22260-20 Black Wedge Shoe B073V67M9L Parent , Lotus Matin 50849 Navy Microfibre Court Shoe B073WX567S Parent , Xianshu Pointed Toe Diamond Crystal Transparent High Heel Shoes B073W3LKPM ParentLotus Navy Ancoma Print & Patent Court Shoes 4 B0749RMNBS Parent , Naturalizer Womens Nation Court Shoes B00DRECIEM ParentFaith Purple Satin Stiletto High Heel Slingback Bridal Court Shoes B07D3X47RB ParentVan Dal Womens Lenwade Kitten Heel Court Shoes in Dark Taupe Pearlised Patent B00OOYTUX6 Parent , Carolbar Women's Ankle-Strap Diamante Custom Court Shoes B07GB19HDF Parent , SheSole Womens Satin Wedding Court Shoes Pumps Heels Sandals B07GZMT5G1 Parent , LINYI Womens Shoes 2018 New Gradient Color Banquet Wedding Shoes Pointed Toe Stiletto Heel B07GZGY13Q ParentWomen Mary Jane Thick High Heels Buckle Pumps Party Shoes Round Toe Ladies Stilettos B07HDZ6WYC ParentSERAPH SHOES B-158-1 Women Transparent Stiletto Heels Sandals Sequin Crystal Shoes Dress Wedding Court Shoes B07H4MB5FN ParentPleaser Women’s Amuse-20 Closed Toe Heels B00GTHLGMO ParentWomen Pumps Sharp Toe Thick Heels Female Career Shoes Spring Autumn Office Lay Shoes High Heels B07HH3MG4W Parent , CHLOE Red Satin Stiletto High Heel Slingback Bridal Peep Toe Shoes B00QMDTLVS ParentElara Damen Keilsandalette | Bequeme Korkwedges | Plateau Sandalette B01GVBCJHI ParentHILLARY Gold Glitter Stilleto High Heel Classic Court Shoes B00KHSA4YC Parent , Marco Tozzi Women’s 22441 Court Shoes B00XDYTSTE Parent , Iron Fist Ruff Rider Platform Shoes Black: UK 6 B008GSTC7U Parent , Destiny White Satin High Heel Bridal Court Shoes B015EJCPEU Parent , DARCY Champagne Glitter Stilleto High Heel Pointed Court Shoes B00MR773KE Parent , Iron Fist Ruff Rider Platform Shoes Black: UK 7 B008GSTCG6 ParentDorothy Perkins Nude Gift Peeptoe, Women’s Open-Toe Heels B072XW3SY1 ParentJoker Professional Women's Shoes Sexy Pointed Shallow Mouth High Heels Autumn Was Thin Women's Shoes Stiletto B07H2F7LGS ParentCharm Silver Glitter Low Heel Round Toe Comfort Court Shoes B01MS8GJFE Parent

Time limit is exhausted. Please reload CAPTCHA.

Marco Tozzi Women’s 22431-31 Closed-Toe Closed-Toe Pumps Pumps Marco B07D78LZ3T Parent 74e3e10 -