Chinese Chinese Pump Laundry B0759BCKGL Holliston, Women’s Pump B0759BCKGL Parent 94a5f82 -

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.”

Chinese Chinese Pump Laundry B0759BCKGL Holliston, Women’s Pump B0759BCKGL Parent 94a5f82

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 *

Men's/Women's Easy Street Womens Proper B071W6RG33 Parent Modern and elegant fashion Make full use of materials a lot of varietiesGentlemen/Ladies J. Renee Womens Allitson B06XY2YW33 Parent sell Price reduction Suitable for color , Nine West Women’s Onyeka Synthetic Platform B072M7T1J2 ParentCalvin Klein Womens Genoveva Pointed Toe Classic Pumps, Black, Size 7.5 US / 5.5 UK US B073C6HH1Q ParentGentlemen/Ladies Tamaris Women’s 1-1-27224-20 Closed B0763NPWD9 Parent Quality products High quality and economy Excellent stretchingCalvin Klein Women's Kara Pump B0721TWS8V ParentMan's/Woman's Tamaris Women's 1-1-27138-30 Closed B0763R52BN Parent use Settlement Price British temperament , Men/Women Tamaris Women’s 1-1-27525-20 Closed B0763PKB9H Parent Customer first excellent Great choice , Bettie Page Womens BP310-RAYNA Bp310-rayna B0766CCXVL Parent , Betsey Johnson Women’s Ginjer Pump B0763ZN59X Parent , Anne Klein Women’s Cadwyn Peeptoe Wedge Pump B0777R74KQ ParentPenny Loves Kenny Women’s Opus GL Pump B076FTC8WG Parent , Anne Klein Women’s Genisa Pump B0788DL85Z ParentMen's/Women's Bandolino Women’s Galan Pump B079X2NCG2 Parent Modern technology Modern and stylish fashion Fair price , Anne Klein Women’s Cerise Ruffle Slide Pump B078JJ71DD ParentClarks Women’s Linvale Jerica Pump B078HHDP5F Parent , Anne Klein Women’s Maurise Peep Toe Sling-Back Pump B07BL6KVGJ Parent , Marc Fisher Women’s Cedrina Pump B07BLLTJ1Q ParentMarc Fisher Women’s Dianora Pump B07BLQZZDD ParentLifeStride Life Stride Women's, Cadenza High Heel Booties B07CRGZTTD ParentLifeStride Women's Giovanna 2 Pump B07CSDGW9C ParentIndigo Rd.. Women’s Poppee Pump B07CVK56KJ ParentIndigo Rd.. Women’s Pam Pump B07CVKPB5S Parent , Indigo Rd.. Women’s Pinny Pump B07CVKQLCH Parent , LifeStride Women's Parigi Jewel Pump, B07CWDTM4S Parent , Man/Woman LifeStride Women's Sarita Pump B07CWFB72P Parent Outstanding features Known for its good quality Fine wild , Mr/Ms Volatile Women’s Amiee Platform B07CY4Y51H Parent Comfortable feeling auction leading the fashionNot Rated Women’s Haida Pump B0785JY8KY ParentRuby Shoo Women's Brocade Maria Mary Jane Pumps B078ZYY2Y5 Parent ,

Time limit is exhausted. Please reload CAPTCHA.

Chinese Chinese Pump Laundry B0759BCKGL Holliston, Women’s Pump B0759BCKGL Parent 94a5f82 -