Inuovo 6104, Women’s B016CXTYRI Platform Sandals 6104, B016CXTYRI nhta-26559 Parent 31afb67 -

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.”

Inuovo 6104, Women’s B016CXTYRI Platform Sandals 6104, B016CXTYRI nhta-26559 Parent 31afb67

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 *

Cafè Noir OGC937244370 244 VERDE 37 INFRADITO PYTHON ROLLED WITH STONES ORNAMENT MAXI B01D3RJLKG ParentGioseppo Women's Fashion Sandals Black Black One Size B01D6FPBAY Parent , Marco Tozzi 2-27203-26 Womens Mules B01DA1KAD2 ParentLaura Vita Women's Virus Leather Slingbacks B01DEMK3KM Parent , Man's/Woman's Lucky Brand Women's Aisha B01DFSU5MG Parent Easy to clean surface Let our products go to the world Contrary to the same paragraph , XTI Women's Sandalia SRA. Antelina Negro Sandals, Black, 7 UK B01DJGPZHY Parent , Womens Fantasy Leather Lined Twin Buckle Wedge Summer Holiday Sandals (UK 5, Blue) B01DO7PI1G ParentGRACE SHOES 2038 High Heeled Sandals Women Black 40 B01DSO5QDU Parent , Grunland SA1025 ELOI SANDALO DONNA B01DSO9RVC Parent , Gentlemen/Ladies Wrangler WL161665 Sandal Women B01DV84KEE Parent Consumer first Make full use of materials Acknowledgement feedbackJuicy Couture canvas sling back sandals B01DWCJJPY Parent , LOTUS Hugh Sandals Brown 7 UK B01DWI4EOO Parent , COOLCEPT Women Mid Block Heels Gladiator Fringe Boots Open Toe B01DXMFSJY ParentCoolCept Women Sexy Silk Upper Rhinestone Studed High Heel Sandals Shoes B01DXO3EYS Parent , GRENDENE Womens Tribal Sandal 81815 B01E07QW9Q ParentCoolCept Women Mid Block Heels Sandals Patent Ankle Strap Summer Shoes Sizes UK1-10 B01E3LYFXY Parent , CoolCept Women High Heels Sandals Block Heeled High Platform Casual Summer Shoes Ankle Strap Peep Toe B01E8G5KXS Parent , CoolCept Women Flat Sandals Ladies Post Sandals Ankle Strap Flats Classic Suede Summer Dress Shoes B01E8GTLHE ParentCoolCept Fashion Ladies Sweet Bowtie High Heel Sandals Platform Shoes B01E8IZ5QS Parent , HooH Women's Peep Toe Platform Hollow Out Dress Sandals B01E8NJJ7E ParentHooH Women's Peep Toe Platform T-Strap Stiletto Dress Sandals B01E8TX5XM Parent , CoolCept Women Wedges Sandals Low Heel Sandals Knot Strappy Ankle Strap Bohemia Dress Summer Shoes Multi Color B01ECB2Z50 ParentCoolCept Women Wedges Sandals Classic Suede Bohemia Strappy Dress Flats Summer Shoes Multi Color B01EFPINO0 ParentCoolCept Women Mid Heel Sandals Sweet Dress Sandals with Bow Kitten Heel Summer Shoes Glitter Patent Open Toe B01EHTFJUU Parent , HooH Women's Peep Toe Ankle Strap Wedding Chunky Sdandal B01EJAGMAI Parent , CoolCept Women Casual Fretworks Flat Sandals Shoes B01EJDKNK0 ParentGentlemen/Ladies Wrangler WL161660 Sandal Women B01EMJD088 Parent Wear resistant Various types and styles Modern mode , Men's/Women's elementerre Carioca Black Purple B01ENIK83S Parent Crazy price, Birmingham Settlement Price classic style , Oxygen Footbed Toepost Sandal Dido Apple B01EQFDB5U Parent

Time limit is exhausted. Please reload CAPTCHA.

Inuovo 6104, Women’s B016CXTYRI Platform Sandals 6104, B016CXTYRI nhta-26559 Parent 31afb67 -